A strengthening Israeli shekel is creating growing financial pressure for Americans living in Israel and for nonprofits that rely heavily on donations from the United States, according to a report by the Jewish Telegraphic Agency.
The shekel has climbed to near-record highs against the U.S. dollar, trading at less than three shekels to the dollar, its strongest level in decades.
While the stronger currency has been viewed by some as a sign of resilience in Israel’s economy during wartime, many Americans in Israel say it has sharply increased their cost of living.
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