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Israeli shekel, stocks rally as Netanyahu pauses judicial reform

The right-wing Israeli government’s controversial judicial reform plans have divided Israeli society and led to concerns among the Israeli tech sector and global financial institutions.
A stock market ticker displays financial information and world time zones in the lobby of the Tel Aviv Stock Exchange.

Israel’s currency and stock market both performed relatively well on Monday following the government's decision to pause its controversial judicial reform plans. The legislation put forward by Prime Minister Benjamin Netanyahu, which was paused later Monday, is threatening the Israeli economy, according to some observers. 

The rate of the US dollar to the New Israeli Shekel fell from 3.65 shekels to the dollar to around 3.59 shekels by around 11:30 a.m. ET — a decrease of about 2%. The Tel Aviv Stock Exchange’s two main indexes each rose about 2% on Monday.

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