Feeling the effects of a strong shekel, 34 percent of Israeli exporters reported
reduced exports, the Israel Manufacturers Association said Wednesday.
association also reported that 48% of exporters said their profits were
dropping. A strong shekel makes Israeli products relatively more expensive on
the world market, making it harder for exporters to sell.
The Bank of
Israel has intervened in the shekel market four times since early April,
starting when the shekel dipped below 3.6 to the dollar for the first time.