The Jerusalem PostEconomy
Shekel Strengthens to NIS 3.1 Against Dollar, Highest Since April
Summarized from The Jerusalem Post by baba
Center-rightNeutral tone
The Israeli shekel reached NIS 3.1 against the US dollar on Thursday, its highest point since April, according to the Bank of Israel. This strengthening trend has prompted concerns in the private sector and led to a NIS 1 billion funding program for affected tech startups. Experts highlight the challenge of maintaining workforce competitiveness amid the currency shifts.
The story in 5 lines · by baba
- The Israeli shekel reached NIS 3.1 against the US dollar on Thursday, its highest point since April.
- The shekel saw a 1% increase against the dollar in the 24 hours leading up to Thursday's data.
- A NIS 1 billion funding program was launched in July by the Israel Innovation Authority for affected startups.
- The strong shekel previously led some companies to cut wages and staff.
- The shekel had fallen below NIS 3 for the first time in over 30 years in April.
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