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Reuters | Shekel’s gains a result of strong Israel economy: finance minister

Published on Mar 06 2017 // Business and Financial News, Market

Mon Mar 6, 2017 | 5:24am EST –┬áThe strong shekel is not a crisis but rather the result of a robust economy, Israeli Finance Minister Moshe Kahlon said on Monday.

“Israel’s economy (in 2016) ended one of its best years ever and the strengthening of the shekel is a direct result of the strong economic data,” Kahlon said, referring to a 4 percent growth rate last year.

The shekel last week reached an October 2014 high of 3.635 per dollar but has eased back to 3.70 following Bank of Israel intervention the past two sessions. It is also hovering near a 15-year peak versus the euro…..Read More>>

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