The low dollar rate as well as the low euro and pound rate cause certain areas to profit, but also on the other hand quite a few other areas to lose.
For example, the low rates cause those who want to order products on various websites from abroad to buy at lower prices. It should be emphasized that purchases up to $75 are exempt from VAT.
Benny Bohnik, owner of the group "This is what I want", explains: "I see that there is a lot of discussion around products that were in the air throughout the year, and now in combination with the low dollar there is a demand for it. If a product, for example, cost about NIS 300, the drop in the dollar is equivalent to 20-30 shekels, which is quite a lot."
According to Bohnik, "This is a good time to buy consumer goods to equip yourself at home, but you don't need to make a purchase specifically just for that. This is good timing for those who buy products from abroad once in a while, such as toiletries, and close to the time window.
Even if he hasn't reached the last toothpaste, it's a good time to get ahead.
The dollar can also go down because it was already at a lower level, so as mentioned I would not make a significant purchase.
If I had something planned soon, I would be early.
Since the euro and pound exchange rates are also low, this affects all sites.
The pound is crashing against the shekel, which is strong, so I would now keep an eye on the sites there."
And what about the local market?
According to Attorney Uriel Lin, President of the Union of Chambers of Commerce, "The strengthening of the Shekel is an inevitable result of an excess in Israel's trade balance, thanks to the incredible increase in the export of services.
In 2021, this surplus reached 21.5 billion dollars.
The strengthening will certainly affect import prices, but it will not have an immediate effect, because the inputs of the imported products were already determined in the purchases made earlier, and they were high both in the prices of the imported products themselves and in the sea freight rates and the prolonged delays in the seaports.
If the strengthening of the shekel continues for several months, this will have an effect on lowering import duties and the cost of living."
And of course there is the losing side of the exporters and hi-tech.
Ayelet Nahmias Verbin, chairman of the Export Institute, told "Israel Hayom" that "because of inflation, we are very busy with the strengthening shekel, but the process is several years in which we suffer from all kinds of events.
At first it was because of the corona virus, and then because of the war between Russia and Ukraine.
We are constantly in processes that shake things up."
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