Foreign currency trading responded Tuesday morning to Monday night's events in the Knesset - when Prime Minister Ariel Sharon fired four Shas ministers after the party voted against the government's emergency economic plan. When trading opened, the shekel weakened by 1% against the U.S. dollar, and is now being traded at around NIS 4.90 to the dollar.
Trading over the past few days has been relatively calm, with analysts predicting that the government's emergency economic plan would be approved and the Bank of Israel raising interested rates.
The representative rate of the shekel against the dollar is expected to reach NIS 4.90, and to climb rapidly toward NIS 5.00 per dollar. The Tel Aviv Stock Exchange is expected to record drops in share prices.