Story perspectives

High turnout in Israel election drives shekel swings

By Drooid · Oct 27, 2026, 4:39 PM UTC · How we work

Summary

Shekel Rises

Shekel rose nearly 1% to 3.05 per dollar, its highest level in three weeks.
Voter turnout reached 31.5% within the first five hours, the fastest since the 1977 election.
JPMorgan warned the shekel could swing up to 3% up or down depending on the election outcome.
Analysts said high turnout could boost parties opposing Netanyahu’s Likud bloc, shaping market expectations.

Summary

Israeli Voters Vote

Israeli voters cast ballots Tuesday in a national election pitting Prime Minister Benjamin Netanyahu against former chief Gadi Eisenkot.
More than 7 million Israelis, including about 330,000 first-time young voters, were eligible to vote.
Opinion polls show neither bloc is expected to reach the 61-seat majority needed.
Arab-Israeli parties, about 20 % of the population, aim for turnout above 70 % to become kingmakers.

History

Historical Context

On 17 May 1977 Israel held its ninth Knesset election, where Likud under Menachem Begin won a plurality, ending nearly three decades of Labor dominance—a shift dubbed the Mahapach. Voter turnout reached 79%, and the result forced new coalition dynamics. The 2024 contest, pitting Benjamin Netanyahu’s Likud against Gadi Eisenkot, echoes that historic realignment, highlighting how high participation can reshape Israeli politics.

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Shekel Rises

Shekel rose nearly 1% to 3.05 per dollar, its highest level in three weeks.
Voter turnout reached 31.5% within the first five hours, the fastest since the 1977 election.
JPMorgan warned the shekel could swing up to 3% up or down depending on the election outcome.
Analysts said high turnout could boost parties opposing Netanyahu’s Likud bloc, shaping market expectations.

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