Money Matters - IsraTransfer Currency Exchange Weekly Round-Up Podcast Episode 5

In this week's episode of MONEY MATTERS: THE WEEKLY CURRENCY EXCHANGE ROUND-UP, our Head of Trading, Daniel Engelsman takes a look at the latest market trends and currency updates.

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Disclaimer: The Company provides general information on currency exchange and transactions but does not offer legal, financial, or investment advice. Decisions related to buying or selling currency are solely the listener’s responsibility. The Company is not liable for any actions taken based on this content.

Money Matters - IsraTransfer Currency Exchange Weekly Round-Up Podcast Episode 5 - 7 March 2025

TRANSCRIPTION:

PRESENTER:

Welcome to Money Matters, the weekly currency roundup podcast brought to you by Isra Transfer. Whether you're a seasoned investor and expat managing your finances, or just curious about the world of currency exchange, you're in the right place. Each week, Isra Transfer's co-founder and head of trading, Daniel Engelsman, will inform us of the latest trends, insights, and market movements that could impact your money.

From currency fluctuations to economic news, we're here to equip you with everything you need to navigate the ever-changing landscape of foreign exchange. So let's dive into this week's roundup. Daniel, what's the latest update on the exchange rate?

DANIEL ENGELSMAN:

It's the end of another week, and we're going to have a quick dive into the Israeli shekel's performance over the last week.

The day is March the 7th, and we're going to look back at how the shekel fared against the US dollar, Canadian dollar, and British pound over the last week. Let's break it down. Normally, I would go currency by currency, and I'll probably end with that.

But the big highlight is that across the board, the shekel has weakened against all major currencies. Why has that happened? In my opinion, it's mainly to do with geopolitical factors and the threat of war. We've seen the end of the ceasefire.

It looked very unlikely that we're going to come to another agreement for phase two of the ceasefire. So the chances of us going back to war, unfortunately, have increased over the last week. And therefore, the shekel weakens.

We've spoken about this before, but during times of war, when the war first started, when we had the attacks from Iran, you always see the shekel weakened at those points. And we're seeing that again this week. Obviously, things are a bit clouded by what's happening with Ukraine and Russia.

And that kind of overshadowed a lot of the news in Israel this week and in the rest of the world. But it really does feel like there's a fear that we might be going back to war. So therefore, that's probably the main reason that the shekel has weakened quite a bit against some of the major currencies.

I mean, if we start with the US dollar, the last few weeks, we've been talking about it being in a range of around 3.53 to around 3.59. Also, 3.6 is a very psychological level. So if it breaks through there, it often will go on a bit higher. And, you know, we've ended the week at 3.63. So it's gone quite a bit through the 3.6 level and the whole range trading that we've seen from previous weeks.

PRESENTER:

And what about the British Pound and Canadian Dollar?

DANIEL ENGELSMAN:

With the pound, British pound, that's really gone up about 3% last week, 3.5%. You know, we started the week around 4.51 and we're ending the week at 4.68. So that's a big jump over the course of a week. And finally, the Canadian dollar, very similar pattern to the other currencies. We started the week at 2.47 and we've ended the week at 2.53. We've seen really nearly a 2% jump in the exchange rate there.

PRESENTER:

And whatshould we be looking at for next week?

DANIEL ENGELSMAN:

Obviously, war is not good. But if someone is looking to convert money from their foreign currency into Shekel, things have improved for you over the last week. So I would keep watching this space and things can change very quickly, as we've seen over the last week.

And it will be driven by geopolitical factors more than anything, I believe.

PRESENTER:

And any recommendations for those considering purchasing property in Israel?

DANIEL ENGELSMAN:

I always like to finish with a little tidbit of information. This week, I just want to talk about making sure that you're being with professionals when you're buying a property.

I see so many people that, you know, might have a friend that works in law, for example, that doesn't specialise in real estate, or people going to someone that doesn't understand their culture. If you're buying a property in Israel, you need someone that's going to speak your language, understand your customs, and explain everything, how you understand it. So it's vitally important, whether it's to do with money change, whether it's to do with mortgage, a realtor, a lawyer, make sure you're speaking to someone that's got good experience and really speaks your language and your culture and your customs, that they can speak to you on your level.

So important. I see so many people mess up on this point and wonder why they've run into problems. So that's my tidbit for this week.

Have a good week, and we will speak next week.

PRESENTER:

And that wraps up this week's Currency Weekly Roundup.

We hope you found this episode informative and engaging. If you enjoyed today's discussion, be sure to subscribe and let us know if you have any questions you'd like Daniel to answer. For more information on currency exchange and to stay updated with the latest trends, visit us at isratransfer.com. Join us next week for more insights and analysis.

Until then, stay informed and take care.

Disclaimer.

This podcast provides general information about currency exchange and buying or selling currency.

It does not constitute legal, financial, or investment advice. Listeners should make independent decisions and seek professional guidance. The company is not liable for any actions taken based on this content.