The figure was significantly higher than the 57.7% recorded at the same time during the previous election.

More than 4.8 million citizens had voted out of 7,331,981 eligible voters, with polling scheduled to continue until 10 pm.

The election is being viewed as a defining moment for Israel following three years of war, the October 7, 2023, Hamas-led attack, repeated confrontations with Iran and deepening political divisions between the ruling coalition and opposition, as well as within Israeli society.

Election day triggers 41% surge in spending

The heightened electoral participation was accompanied by a sharp increase in consumer spending, as the election-day holiday encouraged shopping and leisure activities.

According to Shva, the company operating Israel's national payment system, spending through payment cards between 8 am and 5 pm on Tuesday reached approximately 1.14 billion shekels.

The figure marked a 41.2% increase over the same period during the November 2022 general election, when spending stood at around 808 million shekels.

Compared with the municipal elections in January 2024, when card spending during the corresponding hours reached approximately 1 billion shekels, the latest figure represented a 12.9% rise.

Peak shopping activity recorded at 12:40 PM

Shva recorded the busiest period of the day at 12:40 pm, when more than 15,500 transactions were processed, amounting to approximately 3.61 million shekels.

The company said transaction volumes and spending patterns throughout the day resembled those typically observed on Fridays or the eve of a holiday.

The data covered all shekel-denominated transactions processed using Israeli payment cards.

Shekel gains against dollar and euro

Israel's currency strengthened sharply against the US dollar and euro following reports of strong voter turnout, in a move that appeared to reflect optimism among foreign-exchange investors about the possible election outcome.

The dollar fell 1.8% against the shekel to trade slightly above 3.02 shekels, while the euro declined 2.2% to approximately 3.37 shekels.

The gains came even as the dollar posted moderate advances in global markets.

However, trading activity in Israel's foreign-exchange market remained limited because of the election-day holiday and bank closures. The Bank of Israel also suspended publication of its representative exchange rate for the day under its applicable directives.

Political stakes remain high

The record turnout underscores the importance of the election at a time when Israel faces security challenges, economic pressures and significant internal political disagreements.

With polls scheduled to close at 10 pm, the final turnout figure and election results are expected to provide a clearer picture of the public mood and the country's political direction.