Shekel strengthens toward NIS 2.90 per dollar, up over 8% YTD

The shekel traded around NIS 2.9030 to the dollar in late June, its strongest level since October 1993 and more than 8% stronger against the dollar since the start of 2026. The move was tied to institutional foreign-exchange sales, foreign-resident flows, global market performance and Israel's falling risk premium; the stronger shekel curbs imported inflation even as exporters warn about competitiveness.