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SaltWire's Atlantic regional weather forecast for November 7, 2023 | SaltWireJERUSALEM - A month on from the Oct. 7 attack by Hamas gunmen that killed 1,400 Israelis, investors are gradually returning to country's financial markets, warily accepting the descent into its worst security crisis in decades.
Israel's response to the attacks, which included the abduction of more than 240 Israelis, has been an unrelenting air bombardment of the Hamas-run Gaza Strip, followed by a ground offensive. At the outset of the war, markets were stunned. The shekel, which had already shed 10% in 2023 partly on the government's contested plan to overhaul Israel's judiciary, tumbled 5% and reached an 11-year low.
Data shows it spent less than a third - $8.2 billion - of that pledge during October. It still has more than $190 billion of foreign exchange reserves at its disposal, and has executed $400 million of dollar-shekel swaps.
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