Israel's currency, the shekel, dropped 7.5 percent compared to the US dollar last year - based on concern that the instability of the region and the European debt crisis will slow Israel's growth.
BUT, one result is that this is actually good news for some Israeli tech start-ups who have many operational costs in shekels and yet make a good share of their revenues in US dollars. Check it.
Smita and I also discovered while researching for the Macro problem set that this is in general good news for Israel as it makes their export market stronger.
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