Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli army spokesman: A missile was launched from Yemen toward 'Israel', and air defenses are operating to intercept it
Israeli media: Sirens sound in al-Quds and its surroundings following the launch of a ballistic missile from Yemen
Israeli media: Sirens sound in al-Naqab
Israeli officials told Kan: The United States is fully assisting us in defense
Israeli media: 3 Israelis who were missing in Haifa have been found dead
Iranian websites: Air defenses intercept hostile targets in the skies over Kermanshah, western Iran
Asif: Patronage of 'Israel' a 'rogue state' can have catastrophic consequences
Asif: Western world must worry about conflicts being generated by Israel, it will engulf the whole region and beyond
Asif: 'Israel' not bound by any international nuclear discipline not signatory to NPT or any other binding arrangement
Pakistani Defense Minister Khawaja Asif: World should be wary and apprehensive about 'Israel’s' nuclear prowess

Israeli foreign reserves slump $7.3bn in October amid war on Gaza

  • By Al Mayadeen English
  • Source: Bloomberg
  • 7 Nov 2023 17:29
  • 2 Shares
2 Min Read

Israel's foreign exchange reserves fell by $7.3 billion in October as the regime's central bank sought to defend the shekel after the start of the war on Gaza

  • x
  • AFP photo
    Man displays bills of 50 shekels (AFP)

By the end of October, "Israel's" foreign reserves decreased by $7.3 billion (3.7%) to a total of $191.2 billion, Bloomberg reports.

The drop was primarily attributed to the regime's central bank's efforts to support the shekel following the start of the resistance operation on October 7. 

On October 9, the central bank introduced a $45 billion support package, involving the sale of up to $30 billion from its foreign-currency reserves and providing up to $15 billion through swaps. 

Israeli stocks and bonds experienced significant declines as traders were concerned that the war might spill out into the region.

Despite this decline, analysts note that the reserves remain higher than the average of the past decade.

Over the past ten days, Israeli assets, including the shekel, have shown improvement amid a global relief rally and allegations that the war on Gaza may soon come to an end.

Related News

Massive pro-Palestinian rallies sweep France

Several killed in Israeli strike on northern Gaza 'aid' site

The shekel has since recovered nearly all its losses since October 7, registering a 0.9% increase to 3.85 per dollar as of 1:55 p.m. in "Tel Aviv", resulting in a 6% rise since late October.

The central bank attributed the decline in reserves primarily to foreign-currency sales amounting to $8.2 billion.

Israel supports shekel, causing it to recoup losses

The Israeli shekel has recovered most of its losses since the war between Israel and Hamas began a month ago, and central bank support has helped contain volatility and prevent bets against it.

The currency is less than 1%… pic.twitter.com/enhu6sOSr3

— DÄ“miurgòs (@DemiurgosCaen) November 7, 2023

Whether things will remain as such or not is up to debate.

Since the start of the resistance operation, several countries have called for a boycott of Israeli products and have expelled Israeli envoys.

The global movement to boycott Israeli products is likely to have severe consequences on trade and investor sentiment, which will impact the regime's economic performance.

Moments ago, a source in the Turkish parliament informed Reuters that the Parliament has imposed a partial ban on the sale of Israeli-linked companies, including Coca-cola and Neslté.

Read more: Iran to release list of banned imports from Israeli-linked firms

  • war on Gaza
  • shekel
  • Israel
  • Israeli economy
  • Genocide
War on Gaza

War on Gaza

Most Read

Iranian missiles impact Israeli sites in Tel Aviv in 2nd wave

Iran's missiles impact 'strategic' Israeli site in Tel Aviv

  • Politics
  • 14 Jun 2025
Smoke rises after an Iranian ballistic missile directly struck Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

Op. True Promise 3: Iran's ballistic missiles strike Tel Aviv

  • MENA
  • 13 Jun 2025
'Israel' launches major strike against Iran's nuclear program

'Israel' launches massive aggression on Iran

  • MENA
  • 13 Jun 2025
Bin Salman: Islamic world backs Iran in call to Pezeshkian

MBS says Islamic world backs Iran in call with Pezeshkian

  • MENA
  • 15 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Iranian Foreign Minister Abbas Araghchi speaks to journalists after a meeting with Lebanese Parliament Speaker Nabih Berri in Beirut, Lebanon, Tuesday, June 3, 2025. (AP)
Politics

Iran confirms targeting Haifa oil refinery, vows continued retaliation

An Israeli military working dog searches rubble for survivors in an area hit by a missile fired from Iran, near Tel Aviv, occupied Palestine, Sunday, June 15, 2025.(AP)
Politics

Ex-Israeli General warns of strategic defeat in war with Iran

Steve Bannon speaks at the Conservative Political Action Conference, CPAC, at the Gaylord National Resort & Convention Center, Thursday, Feb. 20, 2025, in Oxon Hill, Md. (AP)
Politics

Steve Bannon accuses 'Israel' of pushing US into war with Iran

The Haifa oil refinery burns after being targeted by an Iranian missile, June 15, 2025 (Social Media)
Politics

Iran causes significant damage to Haifa oil refinery, pipelines

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS