Weak dollar to hurt export revenue

A continuing weak dollar was expected to erode exporters' revenues by NIS 7 billion in the coming year while profits are poised to come down by NIS 3b.

By SHARON WROBEL
October 19, 2006 07:05

A continuing weak dollar was expected to erode exporters' revenues by NIS 7 billion in the coming year while profits are poised to come down by NIS 3b., according to estimates by the Israel Export & International Cooperation. David Artzi, chairman of the group, warned that if the dollar exchange rate continued to weaken in the long-term, many exporters would have to close their export lines in Israel and transfer to China, India, Thailand and Vietnam.


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