Why Israel’s Weaker Shekel Isn’t Enough to Help Exporters: Chart
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While Israel’s shekel has weakened 2.5 percent against the dollar since September, that’s little consolation to policy makers seeking to help exporters accounting for about a third of the economy. The reason? It’s continued to strengthen against a currency basket representing the country’s main trading partners, including the dollar, which means while exports are more competitive in the U.S., they are losing their edge elsewhere.