JERUSALEM, May 29 (Xinhua) -- The Israeli shekel appreciated against the U.S. dollar, reaching an exchange rate of 3.512 shekels per dollar on Thursday, according to official rates issued by the Israeli central bank.
This is the shekel's strongest value against the greenback since Israel's multi-front conflict in October 2023. Furthermore, it is the Israeli currency's highest value recorded since Feb. 14, 2023, when it stood at 3.502 shekels for 1 dollar.
On April 9, the rate was 3.813 shekels per dollar, but since then, the U.S. currency has weakened by 7.9 percent against the Israeli currency in less than two months.
Joseph Freiman, CEO of the Israeli financial Prico Group, told Xinhua that the possible release of more Israeli hostages, among others, "is contributing to the calm in Israel's foreign exchange market and the strengthening of the shekel."
Earlier on Thursday, Israel's state-owned Kan TV news reported that Israel had received a new U.S. proposal, which includes a 60-day ceasefire in Gaza in exchange for the release of 10 living hostages and 18 bodies in two phases.
Quoting a senior Israeli official, Kan TV said Israel will in return release 1,236 Palestinian detainees and prisoners, along with the bodies of 180 Palestinians.
Later in the day, Hamas said its leadership has received a new U.S. proposal from the mediators about the ceasefire in Gaza and is studying it, without providing further details about the proposal. ■
