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Shekel Drops as USA Signal About Attack on Syria

August 27, 2013 at 15:38 by Vladimir Vyun

A coin on some ILS billsThe Israeli new shekel declined today as political tensions in Middle East escalated after the United States signaled about possible attack on Syria in case the Middle Eastern country uses chemical weapons.

The USA signaled about possible cruise missiles strike to deter Syria from using chemical weapon. The shekel dropped as investors avoided Israeli assets on concerns that potential conflict will involve Israel. The Bank of Israel kept interest rates unchanged yesterday.

USD/ILS went up from 3.6176 to 3.6540 as of 15:38 GMT today.

If you have any questions, comments, or opinions regarding the Israeli New Shekel, feel free to post them using the commentary form below.

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