The almighty shekel

This week, the shekel reached its highest value against the US dollar in almost ten years, at about 3.78 shekels to the dollar. The seemingly relentless rise of the Israeli currency was interrupted on Thursday afternoon, when Bank Hapoalim shocked the local market by announcing another massive write-off of securitised American loans that it had unwisely invested in (so-called subprime, […]

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