US Dollar in Freefall Against Israeli Shekel

Although the U.S. dollar rallied somewhat against the shekel on Monday morning—hitting NIS 3.426 after plummeting to NIS 3.23 on Friday—the current exchange rate marks the lowest point for the United States currency since 1996.

The euro also dropped and was trading at 3.955 against the shekel.

The Bank of Israel has stepped up its acquisition of USD since November, in an attempt to stem the decline in the demand for the dollar.

This article first appeared in Israel Hayom.