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Israeli Shekel Falls to Almost 8-year Low

New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo Acquire Licensing Rights
New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo Acquire Licensing Rights
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Israeli Shekel Falls to Almost 8-year Low

New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo Acquire Licensing Rights
New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo Acquire Licensing Rights

The Israeli shekel fell to an almost eight-year low against the US dollar on Monday as conflict in the Middle East escalates.

Fighters from Hamas killed 700 Israelis and abducted dozens more as they attacked Israeli towns on Saturday.

In response, Israeli air strikes hit housing blocks, tunnels, a mosque and homes of Hamas officials in Gaza on Sunday.

According to Reuters, the currency pair is not particularly active during Asian hours.

The shekel was last down more than 3% against the dollar at 3.9581.

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About 12% of Oil Production in Gulf of Mexico Shut-in

People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)
People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)
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About 12% of Oil Production in Gulf of Mexico Shut-in

People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)
People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)

About 12% of current oil production and 6.04% of the current natural gas production in the Gulf of Mexico is shut-in due to storm Helene, the Bureau of Safety and Environmental Enforcement said in a statement on Saturday.

Authorities across the southeastern United States faced the daunting task on Saturday of cleaning up from Hurricane Helene, one of the most powerful and perhaps costliest to hit the country.

Damage estimates across the storm's rampage range between $95 billion and $110 billion, potentially making this one of the most expensive storms in modern US history, said chief meteorologist Jonathan Porter of AccuWeather, a commercial forecasting company.
Downgraded late on Friday to a post-tropical cyclone, the remnants of Helene continued to produce heavy rains across several states, sparking massive flooding that threatened to cause dam failures that could inundate entire towns.