1. Shouldn't dropping shekel result in increased exports?
Raymond in DC , |
Washington, USA |
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(07.16.12) |
It wasn't so long ago that exporters were complaining about the "strong" shekel making their exports, denominated in dollars, less competitive. But since then the shekel has dropped from NIS 3.30 to the dollar to NIS 3.99. So Israel's exports should be *more* competitive now in dollar terms.
Exporters sometimes keep prices up even with a declining currency to increase profits. I note there's been no drop in local prices for European autos (at least in the US) despite the decline in the Euro.
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