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On Wednesday, 6 February, the NIS continued its strengthening against the US dollar, falling by 0.68% to NIS 3.554 per dollar in interbank trading. This figure indicates a strong rebound of the national currency after fluctuations caused by external economic factors. At the same time, the shekel exchange rate against the euro rose by 0.25%, reaching NIS 3.704 per euro, The Jerusalem Post reports.
On Wednesday, the official shekel-dollar exchange rate was also set at NIS 3.578 to the dollar, down 0.859% from Monday. The shekel-euro exchange rate fell by 0.176% to NIS 3.694 per euro.
The shekel had a difficult start to the week: on Monday, the currency lost ground against the US dollar on fears over US President Donald Trump’s tariff demands, which caused the dollar to strengthen on global markets. However, after Trump delayed the introduction of tariffs following concessions from other countries, the dollar began to lose ground.
The shekel has continued to strengthen due to changes in international politics, in particular the US plans to annex Gaza, which has led to stability in the currency market. It is now at levels not seen since early 2023, before the start of Israel’s divisive judicial reform.
Ori Poria, chairman of Poria Financial Planning, said: “The medium- to long-term outlook remains unchanged, and the shekel is likely to continue its trend of strengthening against the world’s major currencies.”
