Photo Credit: Courtesy XE.com
The Dollar-Shekel exchange rate broke the 4.0 barrier over the weekend reaching 4.0090 — where 1 US dollar is equal to 4 Israeli Shekels.
This is the first time since September 2012 that the dollar-shekel rate broke the 4.0 mark. The 4.0 mark is considered a significant psychological barrier, and it may mean the dollar will continue to strengthen against the shekel.
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A stronger dollar is good for tourists visiting Israel and Israeli exporters.
Economists don’t necessarily believe that a weak shekel is is a bad sign for the Israeli economy, as a variety of factors are influencing the exchange rate, and Israel’s fundamentals are solid.
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