Shekel Strengthens and Stock Exchange Falls Following Election Results

In depth

Following the publication of the results of the elections to the twenty-sixth Knesset, declines were recorded on the Tel Aviv Stock Exchange on the first trading day. According to Ice, the TA-125 index fell 2.46%, and the TA-35 index fell 1.81%.

In the foreign exchange market, the dollar surged after the announcement of the results. According to Arutz Sheva, the representative dollar rate rose 1.62% to 3.128 shekels, and according to Ice, the dollar traded around 3.12 shekels. According to J.P. Morgan, as reported in Calcalist, the dollar is expected to stabilize in a range of 3.10 to 3.12 shekels until the political picture becomes clearer.

The following day, according to Arutz Sheva, the shekel strengthened and the dollar fell to 3.114 shekels. According to Calcalist, trading in the foreign exchange market remained volatile, with the dollar trading around 3.12 shekels.