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Dollar falls to 25-year low against the Israeli shekel

The dollar briefly traded at $1 to 3.1005 shekels Tuesday morning, the lowest the American currency has reached in 25 years.

The strengthening of the shekel hurts Israeli exporters who sell their goods in foreign currencies but pay their expenses in shekels. Exports account for about 40% of Israeli GDP.

The euro also fell trading around 3.60 shekels this morning, as the shekel continues to strengthen.

The All Israel News Staff is a team of journalists in Israel.

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