Shekel opens week at strongest in over 3 years

Bank Leumi sees the shekel trading in the NIS 3.1-3.3/$ range over the next 12 months.

The shekel is strengthening today as is trading at its strongest rate in over three years against the dollar and nearly three years against the euro. In afternoon inter-bank trading the shekel is 0.21% lower against the dollar at NIS 3.233/$, and 0.54% lower the euro at NIS 3.733/€.

On Friday the representative shekel-dollar rate was set 0.369% higher, at NIS 3.265/$, and the representative shekel-euro rate was set 0.518% higher, at NIS 3.766/€.

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Bank Leumi head of markets strategy Kobby Levi tells “Globes,” “The shekel has been supported by gains in global stock markets this morning, which likely stem from progress in the process that will lead to an end to the US government shutdown.

“The improvement in Israel’s rating outlook, which did not surprise the market, also adds to Israel’s wave of optimism. All of these join the fundamental forces that have supported the shekel’s appreciation trend for years. (Bank Leumi’s) Economics Department estimates that the average dollar-shekel exchange rate in the next 12 months will be in the range of NIS 3.1-3.3/$, in the main scenario. There are optimistic scenarios whose probability of realization has recently increased slightly, and pessimistic ones that originate mainly in the geopolitical arena.”

Published by Globes, Israel business news – en.globes.co.il – on November 10, 2025.