Is a strong shekel really so bad?
The time has come to rethink the Bank of Israel’s low-interest-rate policy and dollar buying on the open market.
The dollar has been sinking against the shekel recently, despite all the efforts of the Bank of Israel and the Finance Ministry to keep interest rates low, buy up dollars and swap dollar debt for shekel debt. The greenback remains below 3.50 shekels; last week it sank to around 3.44, its lowest level in three years. It’s not much higher than it was back in March 2008, when the Bank of...
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