Shekel Fares Better than Major Currencies

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CBNNews.com - JERUSALEM, Israel - Since the beginning of the year, the Israeli shekel has shown significant gains against the world's major currencies.

The shekel is up an impressive 15 percent against the US dollar, the British pound and the Canadian dollar, 9 percent against the euro, 8 percent against Sweden's kroner and 24 percent against the South African rand.

Some analysts believe the shekel will continue to strengthen between now and the US presidential elections in November, a month in which Israelis may also be voting for a new government.

Meanwhile, over the weekend, an anonymous buyer finalized the purchase of the Internet domain Israel.com for $5.88 million.

At the beginning of May, Moniker, the registrar for the Internet domain, announced the auction of the Israel.com domain, which began May 23, at a starting price of $5.5 million.

Until its sale, Israel.com provided generic information for tourists, but its future content is not yet known.

Joel Noel Friedman, 46, who bought the domain name in 1994, said he purchased it to prevent its misuse and sold it in honor of Israel's 60th anniversary.

Friedman said had no idea his investment would pay off so handsomely 14 years later.

Source: Haaretz

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