Shekel

Fitch Ratings downgraded Israel’s credit rating from A+ to A, citing heightened geopolitical risks and the ongoing Israel-Hamas conflict.

The New Israeli Shekel levels show that the currency has suffered its worst daily decline since the October 7 massacre.

The excess devaluation of the Shekel is still rising, according to the report, and stands at around 25% of what would have been expected before the announcement of the judicial reform.

Netanyahu and economic officials discuss Israel's 2025 budget amid fiscal challenges from ongoing conflict, aiming for parliamentary approval by year-end amidst rising deficit concerns.

It has been a very good period for wealth in Israel: the average wealth in shekels increased by 142%, and the median by no less than 220%.

The Bank of Israel plans to improve its payment system with a digital shekel, but it is waiting for other advanced economies to launch digital currencies.

Israeli media reported that price hikes include an increase of 5% for the purchase of monthly passes.

Much of the report's analysis of the situation in Israel focused on comparing the outlook for Israel's economy if the situation in Israel's north escalates to if it does not.

Police in Zichron Yaakov investigated theft by "Rami Levy" cashiers, uncovering a systematic scheme. Over 50 indictments were filed for thefts worth half a million shekels.

The announcement comes as shares have recovered from the October 7 Hamas attack on Israel that pushed the broad Tel Aviv 125 index.