Money Matters - IsraTransfer Currency Exchange Weekly Round-Up Podcast Episode 6
- IsraTransfer
- Mar 21
- 5 min read
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:
Welcome to this week's spotlight on the Shekel, your update on the Israeli Shekel's performance over the last week, actually two weeks, because we missed last week, which it was Purim, and I apologise, but wasn't going to release something on Purim.
No one would have listened because everyone should be drunk. So I'm Daniel Engelsman, and we're going to dive into the performance of the Shekel over the last week. As we've been saying for the last, or since we've started this podcast, the exchange rates have been trading between ranges.
So we had the dollar trading between 353 and 360 at its very highest point. We had the pound sterling around four and a half. And we were saying all that time that everything was waiting on what's going to happen with the resumption, or not resumption, of the war here in Israel.
And since things have changed over the last week, and we're definitely back into war, I can testify to that, after being woken up at four o'clock in the morning to go into my shelter, we're definitely back at war, and the exchange rates have changed on the back of that. We have seen the dollar well and truly break that range trading that we were talking about over the last few weeks of this podcast. It broke above 3.6, and it's very much stayed there.
I mean, it's been pushing towards the very high 3.6s. I mean, at the moment, we're at 3.6787. It hit as high as 368 and a half. And, you know, when Israel's at war, the exchange rates go up. You know, not a good reason for exchange rates to go up, but it's the reality.
So at the moment, we've seen a lot of clients trying to jump on the back of that and convert their funds whilst it's at these kind of rates. Who knows what's going to happen over the next week or so, but if war intensifies, this could go even higher. And this is despite, you know, the acquisition, the largest exit of an Israeli company at $32 billion.
That was Wiz being bought by Google, not the airline, but an Israeli company called Wiz. And normally on the back of that, you'd see the Shekel strengthened, but obviously the effects of war are much more important on the exchange rates. And we haven't seen any effects of that.
So that's where the dollar is at the moment.
PRESENTER:
And what about the British Pound and Canadian Dollar?
DANIEL ENGELSMAN:
The pound has been very, very much broke out of its range that we were talking about in this podcast over the last month or so. You know, it was trading around 4.5, and now since what's gone up to 4.77, that's a big jump.
That's 7% jump over the course of a month. So to put that in perspective, if you're transferring £100,000, that's £7,000 difference. It's a big difference.
Again, it's exactly the same reasons that it's moved as because of the dollar as well, because of the war. Same reason. There is a slight extra factor involved with the sterling staying at this kind of level.
The Bank of England, there were some rumours that they might cut interest rates. The fact that they've not cut interest rates and said that they might be cutting them slower than forecast means that strengthens the pound because the higher the interest rates, the stronger the currency is the general rule. So that's keeping the pound at 4.77. And who knows, this could push towards five.
Just don't know if the war escalates more and if next month, the Bank of England indicate that they're not going to cut interest rates for the rest of the year. We might see it pushed that high. Same story with the Canadian dollar.
We've seen it jump up from the range that we saw at the beginning of us talking on this podcast when it was as low as around 2.47 and now at 2.57, which is a more modest 3% climb over the last month, but same reasons. It's all down to the war and the Shekel weakening against all major currencies.
PRESENTER:
And whatshould we be looking at for next week?
DANIEL ENGELSMAN:
What's going to make any difference over the next month or next week when we next talk, just to see how this pans out.
We've also got in the background what's going on with Ukraine and Russia and if peace can happen there. So yeah, we'll have to wait and see, but if you need to convert funds, it might be a good time compared to what we've seen over the last few months.
PRESENTER:
And any recommendations for those considering purchasing property in Israel?
DANIEL ENGELSMAN:
In terms of a tidbit that I like to give at the end of every podcast, my tip for this week is make sure you've got access to your funds.
And what do I mean by that? I've seen over the last few weeks clients who have committed to making payments for a property. They've signed a contract. They said, yeah, I've got access to the money.
I've got all the money in my bank account. And when it comes to reality, their bank gives them a limit of how much they can transfer per day. So if you've got to transfer $500,000 and your bank has got a limit online and you're here of $50,000 a day, that's 10 days to get your money over to Israel.
So before committing to anything, make sure you understand how you've got access to your money. If it's online, what your limits are, make sure you're not fouled or breaking any contracts by not having quick access to your funds. I'll see you all next week and Shabbat Shalom.
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.
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