Israeli shekel falls to lowest level against US dollar after Lebanon explosion

(MENAFN) On Tuesday evening, the Israeli shekel fell to its lowest level against the US dollar following a significant security incident in Lebanon that resulted in numerous injuries and heightened regional tensions. As of 2:20 PM GMT, the shekel was trading at 3.8 per US dollar, down from 3.73 before the incident. This drop represents the shekel's lowest exchange rate since August 7, based on historical data from the Bank of Israel.

The security incident involved explosions of wireless communication devices, commonly known as pagers, in Beirut and other areas of Lebanon. These explosions injured several people, according to local media reports. The state-run National News Agency referred to the incident as an “unprecedented security event,” but did not provide further details. There were speculations among local sources that the explosions might have been caused by an Israeli breach of Lebanon’s communication systems.

While Israel has not officially claimed responsibility for the incident, a news agency reported allegations that "the Israeli enemy hacked pager systems," describing these devices as non-internet-connected mobile tools. In response to the explosions, Lebanon’s Health Ministry issued a warning for citizens to dispose of any pagers they possess. Additionally, the Lebanese Red Cross deployed 50 extra ambulances and 300 emergency medical technicians to assist with the evacuation of those affected by the incident.

The shekel had been experiencing fluctuations since the opening of the market on Monday, driven by increased Israeli calls for stability in the northern regions and concerns over the potential expansion of the ongoing war in Gaza, which has already resulted in over 41,200 fatalities since last October. These developments have contributed to the heightened anxiety and instability in the region, further impacting the shekel’s value.

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