The Israeli shekel: Giving the euro a run for its money

There’s been a lot of talk about the poor dollar to euro exchange rate, but it might not be the European currency that travelers should be concerned about. In fact, in terms of economic gains against global currencies, it looks like the Israeli shekel is currently the world’s strongest currency.

Since the beginning of 2008, the shekel has made significant gains against most of the world’s major currencies; 15% against the U.S. dollar, as well as just a little more against the British pound and the Canadian dollar, 8% against the Swedish kroner and 24% against the South African rand. And against the euro? The shekel has strengthened by 9% against the European currency. But even with a strong currency, Israel still hopes to attracts flocks of tourists, 2.8 million this year alone.