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Shekel shifts from strength to burden in Israel
Reports indicate that the strength of the Israeli shekel, which previously reflected the thriving technology sector and foreign investment inflows, has begun to become a burden on the economy. The shekel has appreciated by more than 25% against the dollar since April 2025. This appreciation has led to a decline in the profits of exporting companies, especially in the technology sector, and has prompted calls for tax payments in US dollars, amid concerns about eroding companies' competitive advantage and weakening local economic growth. Additionally, the continued rise of the currency could prompt some firms to relocate their operations abroad, impacting public finances and increasing pressure on government spending.
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