The Israeli shekel is down nearly 6% in February and at its lowest against the dollar in three years, as political turmoil surges over controversial judicial Reforms pushed by the right-wing government of Benjamin Netanyahu. 160,000 protesters took to the streets of the capital Tel Aviv over the weekend, with tens of thousands more gathering in other cities, demonstrating against the governing coalition’s planned legal overhaul. The reforms would significantly weaken Israel’s judiciary. Prime Minister Netanyahu has labeled the protests — which are now approaching their third month — an attempt “to create anarchy” and trigger another election. The proposed judiciary overhaul will severely limit the Israeli Supreme Court’s ability to review and strike down laws that it deems unconstitutional. The crisis is now extending to Israel’s economic future and has already hit equities and the national currency, with the Tel Aviv Stock Exchange’s benchmark TA-125 index down nearly 4% last week.

The proposed Judicial Reforms have

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