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Intifada Success: Zionist regime's currency plummets


Al Wilayah
July 1, 2002


The Zionist regime's currency, the shekel, continued its nosedive Sunday, losing more of its value against the US dollar and other hard currencies.

The shekel was sold at 5.01 to the dollar in afternoon market trading, losing another full percentage point of its value in less than 48 hours.

The shekel lost nearly 25 percent of its value since Zionist Prime Minister Ariel Sharon came to power sixteen months ago.

Experts attribute the continued downturn of the shekel to the continuation of the Palestinian uprising against Isr**li occupation and apartheid and also to the constantly dwindling confidence in the Zionist economy as a whole.

The Zionist regime is likely to respond to the deterioration in the shekel's value by raising the interest rate for the second time in less than a month.

Three weeks ago, the Bank of Isr**l raised the interest rate by one percent.

However, the measure has proved to be too little and too late.

The devaluation of the shekel is having conspicuously negative effects on economic conditions throughout the Zionist state, with ordinary citizens racing to get rid of their shekels in favor of the more stable currencies.

Moreover, the net value of Isr**lis' incomes has dropped by more than 20 percent in less than a year.

The dismal outlook is made to look even bleaker by the continuing rise in unemployment and joblessness.

Last week, the unemployment rate reached 11 percent of the Zionist state's workforce.