After Yesterday’s Black Monday, the US Dollar fell sharply against major currencies basket, which also affected the exchange rate locally.

Alarm bells rang in global markets yesterday with the stumbling of the Chinese stocks by about 9%, and US Dollar and commodities witnessed sharp declines, which caused investors to panic.

Investors felt that China devaluing its currency against Dollar and the strong selling wave invading global stock markets, in addition to the thunderous fall in major commodities prices would force the Federal Reserve to postpone the decision to raise the currently low interest rate.

Investors turned to safe investment havens such as Gold, Swiss Franc, and Japanese Yen as a result of the concerns of global economy, with the slow-down in China’s economy, and the collapse of the stock market in the country.

In their turn, economists at Barclays Bank expected the Federal Reserve to postpone the decision of raising the interest rate until March 2016 instead of next September.

Experts said that despite the ongoing economic delivery in the United States, and the data explaining raising interest rate in next month meeting, yet it is unlikely that the Central Bank starts restoring the monetary policy to normal soon.

Currency exchange rates against Shekel declined, as it decreased from 3.78 shekels to 3.83.

Tel Aviv Exchange was affected by the collapses in the global markets, as Tel Aviv index fell more than 5%

The biggest decline was recorder Yesterday’s morning in (Tel Aviv 25) index and (Tel Aviv 100) index, which lost 3.7%

Exchange rates against Shekel Today, Tuesday:

Exchange Rate against US Dollar: 3.83 NIS

Exchange Rate against Euro: 4.43 NIS

Exchange Rate against JD: 5.4 NIS

Exchange Rate against Egyptian Pound: 0.49 NIS