Dropping Dollar

May 17, 2008 - 7:34 AM by

As we here at Israelity have noted on several occasions, Israel’s economy has historically been linked to the U.S. dollar. Salaries & property values are often quoted in dollars and keeping a close watch on the index is a daily routine for many.

So as the dollar continues to slip in value, dollar-based venture backers are gasping.

Benchmark Capital partner Michael Eisengerg writes:

Today the dollar closed at 3.3 shekels to the dollar. That is a big hit for Israeli companies who raised dollars or sell in dollars but pay salaries in Shekels. I have written about this before.. The graphic below sums it up in my mind

Tags: • Category: A New Reality, Blogging, Business, Israeliness, Technology 

Comments

4 Comments on Dropping Dollar

  1. Matt on Sat, May 17th 2008 12:40 PM

    2. You are so right about checking the status of the dollar daily. I made alliah 2 years ago and most of my savings are in dollars. I check ynetnews every morning to see where the dollar is at, even before i check my email.

  2. Stephanie on Sat, May 17th 2008 1:49 PM

    3. Matt…you’re hard core.

  3. Matt on Sat, May 17th 2008 6:52 PM

    4. what can I say, stephanie? 4.2 sheks to the dollar when I came. 3.3 this morning. Its like there’s a whole in my pocket.

  4. e. weisbord on Mon, May 19th 2008 1:45 AM

    5. This was the rate when I made Aliyah in 1994.

    I think you need to have a photo caption contest on this one.

    I’ll start….

    OY…I feel so useless!

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