JERUSALEM, Oct. 17 (Xinhua) -- The official exchange rate of the Israeli shekel against the U.S. dollar on Tuesday surpassed the threshold of 4 shekels per dollar for the first time in more than eight years as the ongoing conflict between Israel and Hamas adds uncertainty to the country's economic outlook.
According to representative rates issued by Israel's central bank, the shekel-to-dollar exchange rate was set at 4.008 shekels per dollar, compared to 4.014 shekels per dollar on April 13, 2015.
Since Jan. 25, 2023, when the exchange rate stood at 3.37 shekels per dollar, the Israeli currency has seen a 15.9 percent decline against the greenback.
Andrew Abir, deputy governor of the Bank of Israel, highlighted that the main inflationary concern lately, and especially now, is the shekel's devaluation. The bank has taken steps to stabilize the foreign exchange market by using a tool announced last week, allowing the sale of up to 30 billion dollars. ■
