The exchange rate of the dollar against the shekel has fluctuated in recent weeks, and reports in the foreign exchange market in Israel indicate that the dollar has dropped to its lowest level in over four years.
According to foreign exchange market data, the rate has been hovering around 3.089-3.095 shekels per dollar on the last trading day, the closest level to the low recorded since the beginning of the existing data system.
The sharp decline in the dollar exchange rate is accompanied by a drop in the euro against the shekel, and follows trends of the shekel's strengthening in global markets. The dollar has already traded below the 3.10 shekel mark in several measurement alternatives, and many Israelis have noticed a decrease in foreign exchange prices due to the plummet.
The expectation in the markets is that this trend will continue, and the question among investors today is whether the dollar will fall even below the three shekels per dollar mark.
The strengthening of the shekel is due to several factors, including positive macroeconomic data in Israel, developments in global markets, and the impact of monetary policies that lead to the weakening of the dollar against other currencies. Declines in the dollar index against the global basket of currencies also provide forecasts for the continued weakening of the dollar.