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| By: israelinsider staff |
| Published: April 11, 2007 |
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For the first time in the history of Israeli currency, the shekel strengthened 18 percent against the US dollar in a period of five years.
This phenomenon happened neither with the old Israeli lira or the old shekel (which was used between 1977 - 1985, a period of hyper-inflation). Thus the 17-year-old New Israeli Shekel (NIS) is making history.
But the NIS is not the only new precedent. Israeli inflation has been lower than US inflation in the recent past, and the Bank of Israel's short-term interest rate is much lower than that of the US Federal Reserve.
All this can be related to the continuing plummet of the US dollar.
Read more. |
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