πππ ππππππ ππ π ππππππ - May 2026
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π The Shekel in figures β May 2026
May saw the shekel extend its historic rally to its strongest level against the US dollar since 1993, with USD/ILS sliding from 2.948 to close the month at 2.811 β a further 4.6% gain.
An easing regional picture and a softer dollar kept demand for the shekel strong, while the Bank of Israel cut rates by 25bp to 3.75%. The shekel out-performed across the board β gaining on the dollar, euro, pound, and the Canadian and Australian dollars alike.
Heading into June, the big question is sustainability. With the shekel at levels unseen since the mid-1990s, a period of consolidation would be no surprise β but the calendar is busy, with CPI, another Bank of Israel meeting and the Fed's decision all in view.
Check out the full breakdown in this month's review π
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