Amid reports that Hamas has agreed US envoy Steve Witkoff’s plan for the release of Israel’s hostages, the shekel has been strengthening sharply.
Amid reports that Hamas has agreed US envoy Steve Witkoff’s plan for the release of Israel’s hostages, the shekel has been strengthening sharply. In inter-bank trading the shekel is down 0.56% against the US dollar at NIS 3.5083/$ and down 1.30% against the euro at NIS 3.596/€. This is the strongest the shekel has been against the dollar since February 2023.
Earlier today the Bank of Israel set the representative shekel-dollar rate up 0.085% from Tuesday, at NIS 3.54/$, and the representative shekel-euro rate was set 0.095% lower at NIS 4.01/€.
Hamas announced today that it had reached an agreement with US envoy Steve Witkoff on a “general framework for achieving a permanent ceasefire.” According to Hamas, the agreement includes the release of 10 Israeli hostages and several bodies, in exchange for the release of an agreed number of Palestinian prisoners, on mediated guarantees. However, Israel claimed that the announcement was false and that it was Hamas’ “propaganda and psychological warfare.”
Published by Globes, Israel business news – en.globes.co.il – on May 28, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
Shekel credit: Shutterstock Vladirina 32
