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Amid the ongoing conflict between Israel and Hamas, Israeli financial assets are on a path to recovery after a turbulent sell-off on Monday. The Israeli shekel (ILS) has marginally weakened by 0.1% as of 11:10 AM ET on Tuesday, following a 2.7% loss during Monday’s session, which marked the most significant drop since March 2020. The Israeli currency is presently trading at nearly 4 shekels per USD, which is the lowest level since February 2016. In response to the shekel’s depreciation, the Bank of Israel initiated a substantial sale of foreign currency, amounting to $30 billion, in the open market on Monday. This move represents the bank’s first intervention in approximately two years with the primary goal of preventing further devaluation of the shekel due to the ongoing war and to ensure the necessary market liquidity. Read also: Israel Could Form Emergency Government: Defense Stocks, Israel ETFs In Focus During Conflict Chart: USD/ILS (Amount of Israeli ...Full story available on Benzinga.com

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