Subscribe to Print Edition | Fri., August 29, 2008 Av 28, 5768 | | Israel Time: 09:37 (EST+7) web haaretz.com   Back to Homepage Haaretz Toolbar Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate Easy Start Travel Week's End Anglo File

Last update - 08:45 02/06/2008 Introducing the world's strongest currency: The shekel By Nathan Sheva Tags: shekel, Israel, dollar, euro Even the powerful euro has had a hard time competing with what has become probably the strongest currency in the world since the beginning of 2008: the Israeli shekel. Since the beginning of 2008 the shekel has made some serious gains against nearly all the major world currencies. The shekel has gained 15% against the dollar, slightly more against the British pound and the Canadian dollar, as well as 8% versus the Swedish kroner and 24% against the South African rand. Even the solid euro has had a hard time competing with the shekel, and has fallen from NIS 5.74 at the beginning of April by 12% to NIS 5.00 - its lowest rate in five years. Since the start of the year, the shekel has strengthened against the euro by 9%. Advertisement A week ago the president of the European Central Bank, Jean-Claude Triche, praised the euro to the Wall Street Journal, saying the European currency would provide price stability in the medium-term. Even compared to the currencies of countries rich in natural resources and raw materials, such as Australia and Canada, it has done well. One opinion is that the shekel will continue to gain in the next few months against the dollar and euro, at least until the November elections. The real question is, which elections - those in America or maybe those here in Israel? Bookmark to del.icio.us   Three years in captivity Aviva Shalit accuses politicians of being too busy with their own affairs to free her son. Hezbollah in Venezuela Western gov'ts fear the group is establishing cells in the South American country.   1.   THE STRONG SHEKEL 09:28  |  mike 02/06/08   2.   CHANGE FLAG TO A MENORAH WITH STRIPES 10:06  |  EDU LOBO 02/06/08   3.   I said it before: Shekel uber alles. 10:28  |  S 02/06/08   4.   Mixed Thoughts 10:46  |  ERSB 02/06/08   5.   good for Israeli development, bad for it`s reputation 11:29  |  Joey 02/06/08   6.   Yet prices of imports keep rising...n/t 12:10  |  Jak Black 02/06/08   7.   A golden jail full of parrots 12:23  |  Manolo 02/06/08   8.   To Manolo the Spanish (#7) 12:59  |  Vitaly 02/06/08   9.   #8 Vitaly 15:26  |  Rachel Stevens 02/06/08   10.   Thanks to all the money 15:29  |  Dav 02/06/08   11.   #10 DAV - Shekel must really be good 15:48  |  * BEN JABO 02/06/08   12.   Fine work, vitality 15:49  |  Manolo 02/06/08   13.   Who invented `money`? 16:05  |  Manolo 02/06/08   14.   #9 16:11  |  Reuben 02/06/08   15.   Rachel Stevens #9 16:31  |  Free Gilad Shalit 02/06/08   16.   #9 - Rachel Stevens 17:30  |  MichaelF 02/06/08   17.   #14 Iraq war Rachel right 18:53  |  Dav 02/06/08   18.   Yeah, strong... 20:06  |  Ulf 02/06/08   19.   security measures 01:06  |  xxx 03/06/08   20.   Cooperation, Balance of Trade, Honest Gold-Silver Money 18:04  |  J. Tom Harris 03/06/08   21.   THE STRONG SHEKEL 18:41  |  Caucasian Not Semite 03/06/08   22.   Shekel`s manifest destiny 02:19  |  Itamar 04/06/08   23.   #17 DAV - "Suggest" 16:26  |  * BEN JABO 04/06/08   24.   The worlds strongest currency. 04:26  |  Godspeed Swift 29/08/08

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