Israeli shekel falls to almost 8-year low

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Israeli shekel falls to almost 8-year low © Reuters. FILE PHOTO: New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo

SINGAPORE (Reuters) – The Israeli shekel fell to an almost eight-year low against the U.S. dollar on Monday as conflict in the Middle East escalates.

Fighters from Islamist group Hamas killed 700 Israelis and abducted dozens more as they attacked Israeli towns on Saturday. In response, Israeli air strikes hit housing blocks, tunnels, a mosque and homes of Hamas officials in Gaza on Sunday.

The currency pair is not particularly active during Asian hours. The shekel was last down more than 3% against the dollar at 3.9581.

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