2019 in Numbers
The Year of the Shekel
The Israeli currency saw a steady rise in 2019
According to recently released data by Israel's Central Bureau of Statistics (CBS), in 2019, the shekel’s value appreciated on average 6.3% against the euro, 5.4% against the British pound, 3% against the Swiss franc, and 1% against the U.S. dollar.
Gil Bufman, chief economist at Israel’s Bank Leumi, said in September that he believed the Israeli currency will continue to strengthen.
Israeli industries that are dependent on goods export are extremely vulnerable to changes in the shekel’s exchange rate, while the service export industries are less affected, Bufman said. Industrial tech goods are also less affected than sectors with a low to median technological level, he added.