Hard shekels
NOT too many years ago, when their currency was a laughing stock and their spare cash immediately went into dollars, Israelis used to long for real money. Now they have it. The shekel, under an exchange-rate policy introduced in 1991, is rock hard—so hard, in fact, that it is giving the government fits.
This article appeared in the Finance & economics section of the print edition under the headline “Hard shekels”
From the April 12th 1997 edition
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