The shekel began its decline as early as Monday, when the Knesset voted to pass a law to repeal reasonable grounds. On Tuesday morning, the decline continued.
The dollar and euro continue to strengthen against the shekel. The dollar increased by 1.33% and trades at 3.66 shekels per dollar, the euro strengthens by 1.17% and trades at 4.06 shekels per 1 euro.
At the opening of trading, the Tel Aviv-35 stock index fell by 0.6%, the Tel Aviv-125 index fell by 0.8%, and the banks index lost 1%.
In a few hours, the fall intensified. Tel Aviv-35 fell 1.08%, Tel Aviv-125 fell 1.43%, the bank index fell 2.35%.
The organizers of the protest of high-tech workers commented: “The slump in the stock market and the rise of the dollar are just a taste of the destruction of the economy and the liquidation of high technology carried out in cold blood by the Israeli government. Abolishing the reasons for sanity will lead the Israeli economy to a deterioration whose end can only be guessed at.”
