Israel's currency. (Shutterstock) (Shutterstock)
Israel economy shekel

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Israel’s economy has again proven to be one of the strongest in the world. 

The Israeli shekel is currently the world’s 2nd-strongest currency, according to a new report by the German global banking and financial services company Deutsche Bank.

The report ranked China’s yuan as the world’s strongest currency.

Deutsche Bank’s strategic foreign currency analyst Dr. Gautam Kalani reported that during the past 12 months, the shekel has appreciated 6.1 percent against the currencies of Israel’s main trading partners, such as the US dollar, the British pound, the euro and the yen.

A nearly nonexistent inflation rate and low unemployment have helped propel Israel to the No. 3 spot on a list of the world’s most stable and promising economies for 2016 published by the Bloomberg financial news agency in April.

Israel’s economy continues to perform well by international standards. In January, Israel cracked the top 10 on the 2017 Bloomberg Innovation Index, which rates the level of innovation in a nation’s economy by scoring its spending on research and development and the number of publicly traded high-tech companies.

By: JNS.org and United with Israel Staff