The Jerusalem PostEconomy
Shekel Strengthens Past NIS 3.1 Against Dollar for First Time Since April
Summarized from The Jerusalem Post by baba
Center-rightNeutral tone
The Israeli shekel strengthened past NIS 3.1 against the US dollar on Thursday, reaching its highest point since April, according to the Bank of Israel. This marks a 1% increase in 24 hours, following a period of shekel depreciation that impacted businesses. In July, the Israel Innovation Authority launched a NIS 1 billion fund to support tech startups affected by the currency's appreciation. Experts note challenges in maintaining workforce competitiveness amid the strong shekel.
The story in 5 lines · by baba
- The Israeli shekel reached NIS 3.1 against the US dollar on Thursday, its strongest point since April.
- The shekel saw a 1% increase in value over the last 24 hours, according to the Bank of Israel.
- The strengthening shekel follows a period of depreciation that impacted companies' dollar-based income.
- The Israel Innovation Authority launched a NIS 1 billion fund in July to aid affected tech startups.
- Experts are concerned about maintaining workforce competitiveness with a strong shekel and high salaries.
The Jerusalem Post publishes in English. The key points are summarized above. Read The Jerusalem Post’s full report from the link at the top of the page.
Mentioned
