News Brief

(IsraelNN.com) The dollar was worth slightly below 3.80 shekels in early Wednesday morning trading, reflecting a stronger American currency throughout the world. The rate was below 3.70 early last week, and many analysts still are predicting it will sink as low as 3.30 in 2010.

A low-shekel-dollar rate reflects a strong Israeli currency and can pressure importers to reduce prices but it also hurts profits for exporters. Teva Pharmaceuticals reported record earnings on Tuesday, but its profits were reduced by the low exchange rate the past three months.