The shekel-to-dollar exchange rate hit a new 25-year-high on Monday, with $1 briefly fetching just NIS 3.08 before closing for the day around NIS 3.11.
The shekel has been gaining in strength against major currencies like the dollar and euro, thanks in large part to high levels of foreign direct investment and the strength of the tech sector.
While a stronger currency allows for cheaper imports, it can also hurt exporters by making their goods more expensive for foreign customers.
The new record high came just days after the previous record high was briefly reached, before receding.
The shekel traded at around 3.6 to the dollar for several years, but more recently was in the 3.2 – 3.3 range.
Read more at Times of Israel.
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