Shekel Strengthens Sharply on Election Day Amid High Voter Turnout

The Israeli shekel strengthened sharply against the US dollar and the euro during election day for the 26th Knesset, ynet and The Times of Israel reported. According to the reports, the dollar fell by more than 1% to trade between 3.02 and 3.05 shekels, marking a three-week high for the Israeli currency. The euro also dropped significantly, trading between 3.37 and 3.40 shekels.

News outlet JDN noted that the gains coincided with a surge in voter turnout across the country. Market participants estimated that the high voter participation could help reduce political uncertainty.