Iraqi Dinar Discussion Board

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Israel Shekel 9% Stronger Vs Dollar In December Vs Dec 2005


09:12 EST Tuesday, January 02, 2007

JERUSALEM -(Dow Jones)- The average exchange rate in December was 4.2016 Israeli shekels per U.S. dollar, 8.89% stronger than ILS4.6117 in December 2005, the Central Bureau of Statistics said Tuesday.

The shekel gained most of its value against the dollar and other foreign currencies between early October and the end of December.

Economists have attributed the shekel's increased value to increased foreign investment in Israel and the decline of Israeli bank accounts abroad.

The shekel's growth was only slightly influenced by the global decline of the dollar, economists have said.

The average rate for all of 2006 was ILS4.4559 per dollar, compared with ILS4.4878 in 2005.

At 1310 GMT Tuesday, the shekel was trading around ILS4.2051 per dollar.

-By Sara Toth, Dow Jones Newswires, [e-mail]


(END) Dow Jones Newswires
01-02-07 0911ET
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