Israel shekel plummets against US dollar following mass pager explosion in Lebanon

The Israeli shekel dropped to its lowest level against the US dollar on Tuesday evening after a security incident in Lebanon left dozens injured, sparking further regional tension, Anadolu Agency reports.

The Israeli shekel was trading at 3.8 per US dollar as of 2:20 PM GMT, down from 3.73 before the mass incident. This marks the shekel’s lowest exchange rate since 7 August, according to the Bank of Israel’s historical data.

Wireless communication devices, commonly known as pagers, exploded in Beirut and other areas of Lebanon, injuring several people, according to local media reports.

The state-run National News Agency described the event as an “unprecedented security incident”, though it did not provide further details.

Some local outlets speculated that the explosions were the result of an Israeli breach of Lebanon’s communication systems.

While Israel has not claimed responsibility, the National News Agency reported that “the Israeli enemy hacked pager systems”, referring to the devices as non-internet-connected mobile tools.

Following the explosion, Lebanon’s Health Ministry urged citizens to dispose of any pagers they own.The Lebanese Red Cross mobilised 50 additional ambulances and 300 emergency medical technicians to help evacuate those affected by the incident.

The shekel had been fluctuating since Monday’s market opening, amid increased Israeli calls to restore stability in the north, raising concerns about the potential expansion of the war in Gaza, which has claimed over 41,200 lives since last October, to a broader regional conflict.

READ: Iran envoy, Hezbollah members injured as pagers explode in Lebanon