Connect with us

Hi, what are you looking for?

Jewish Business News


Bloomberg: Shekel Is World’s Worst Currency

shekel bills

Bloomberg declared the Israeli Shekel to be the “World’s Worst Currency” after it went on an up and down ride last week. The Shekel had appreciated by 2.1% against the Dollar before falling 0.8% after the Bank of Israel intervened and bought $200 million.

“It’s the Bank of Israel against the market, ” Yariv Shalev, a currency dealer at Mercantile Discount Bank in Tel Aviv, told Bloomberg. “The central bank will continue to buy but we don’t see the dollar/shekel coming back to levels we’ve seen in the last week. The market does not believe in the interventions, and it knows the Bank of Israel is very limited.”

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

But Bloomberg did not explain why a currency which is gaining so much strength against the Dollar that its government needs to take steps to bring it back down is a bad one.

Perhaps it is only bad for currency speculators who bought Shekels hoping that the Israeli currency would continue to rise against the Dollar.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News