Shekel on rise against dollar

(JNS) — The Israeli currency surged to one of its strongest levels in decades, trading at 3.09 shekels per dollar at noon on Thursday.

A similar exchange rate was last recorded in November 2021 and in 1996.

The Bank of Israel’s representatives exchange rates set on Wednesday afternoon included 3.0910 per U.S. dollar, 4.2609 per British pound, 2.2798 per Canadian dollar, 2.1657 per Australian dollar and 3.7039 per euro.

The shekel’s strengthening is not a momentary outlier, as it has been rising against the nominal effective exchange rate—the basket of currencies of Israel’s main trading partne...