Analysis of recent Dollar→shekel forecasts for 2024. We collate forecasts from respected FX analysts together with the latest US dollar to Israeli new sheqel performance and trends.
Forecasts for USD to ILS
90-DAY LOW▼
1-DAY -1.1%▼
Recent market updates and forecasts suggest a mixed outlook for the USD to ILS exchange rate. FX analysts anticipate a potential reversal of the US dollar's strength in 2023, as the Fed's interest rate hikes cycle is expected to come to an end. This could weaken the USD against the ILS. However, the Israeli shekel has been under pressure due to the escalating conflict in the Middle East, causing it to plummet to its lowest level against the USD in almost eight years.
The significant cross-border attack by Hamas militants in October, followed by Israeli airstrikes targeting Hamas officials, further deteriorated the shekel's value. This situation led the Bank of Israel to make their first-ever foreign exchange sale to maintain financial stability amidst the ongoing conflict. It is worth noting that the USD to ILS exchange rate has shown volatility, trading within a range of 9.7% over the past three months.
Considering these factors, it is difficult to make a definitive forecast for the USD to ILS exchange rate. The eventual reversal of the USD's strength and the ongoing conflict in the Middle East both have the potential to influence the exchange rate. It will be important to closely monitor developments in the region and the actions of central banks to assess the future direction of the USD to ILS exchange rate.
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ILS
USD to ILS is at 90-day lows near 3.6837, 4.4% below its 3-month average of 3.8521, having traded in a quite volatile 10.7% range from 3.6837 to 4.0764
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Date
USD/ILS
Change
Period
14 Nov 2023
3.8010
3.1% ▼
2 Week
30 Aug 2023
3.7823
2.6% ▼
3 Month
28 Nov 2022
3.4330
7.3% ▲
1 Year
29 Nov 2018
3.7110
0.7% ▼
5 Year
30 Nov 2013
3.5230
4.6% ▲
10 Year
03 Dec 2003
4.4237
16.7% ▼
20 Year
USD/ILS historic rates & change to 28-Nov-2023
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Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more