Israeli Shekel at 32-Year High Is Causing Angst in Tech Industry

Despite global condemnation over Israel’s regional wars, the shekel is at a 32-year high, giving the government something to brag about, but fueling anxiety in the vital tech industry.

The shekel has soared 10% already this year to about 3 per dollar, the second-biggest increase among major currencies tracked by Bloomberg. Israel politicians have long said it shows the resilience of the local economy. More recently, though business leaders are starting to warn their livelihoods are under threat.