Shekel falls after Israel's rating downgrade

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The exchange rate of the Israeli shekel fell against the dollar and the euro at the beginning of the week's trading following the decision by Moody's credit rating agency to downgrade Israel's rating.

Today, the shekel exchange rate fell to 3.69 shekels per dollar in early trading on Monday, down from 3.66 shekels at the end of Friday's session, according to Bank of Israel data.

Last Friday, Moody's said it downgraded the Israeli government's foreign and local currency issuer ratings to “A2” from “A1”, and also downgraded Israel's unsecured foreign and local currency ratings to “A2” from “A2″. ” Is done. A1 amid negative expectations”.

The decision to cut, Israel's first in more than 50 years, comes in the wake of the Tel Aviv-initiated war in the Gaza Strip since last October 7, tensions in the north with Hezbollah and Houthi attacks on Israel in the southern Red Sea. American and British ships.

The shekel also fell to 3.99 shekels against the euro, down from 3.96 shekels at the end of Friday's session, amid expectations that the impact of the classification on exchange rates would wear off, with military developments a major driver of prices during Will remain. The time to come.

On the agenda for the exchange market in Israel this week will be inflation data from last January, which will be published next Thursday, which is the last price index to be published before the next Bank of Israel decision on interest rates in February. 26.

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