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A stronger shekel has become a pressing problem for Americans building lives in Israel
(JTA) — Yisrael HaBahiyir saved for more than a year to make his dream of moving to Israel come true.
But just weeks after leaving upstate New York, where he had been managing operations for a synagogue, he got a cruel reality check when he transferred his rent money from his American bank account to Western Union to pay his Tel Aviv landlord.
“I sent the same amount I normally transfer and went to pick it up. It was about 300 shekels short. I said something to the cashier, like, ‘I think you gave me the wrong rate,’” HaBahiyir recalled. “That’s when I realized the shekel was strengthening.”
It’s an experience that Americans in Israel — and Israelis who depend on American dollars — are increasingly facing, as the Israeli shekel has strengthened to near-record highs. While the currency’s strength has been good news to many Israelis who worried that years of war would harm the economy, it is having wide-ranging and often challenging ramifications for immigrants and Israeli nonprofits.
Many Americans who move to Israel have chosen to keep some or all of their assets in dollars, whether to hedge against shekel volatility, maintain financial ties to the United States or preserve flexibility should they ever return.
When the dollar is relatively strong compared to the shekel, as was the case for much of the past decade, that arrangement is advantageous. Assets held in dollars go further in an Israeli economy priced in shekels, giving American immigrants greater purchasing power for everyday expenses.
But now, with the shekel trading at less than three to a dollar, its most favorable rate in three decades, anyone trying to make a life in Israel using U.S. dollars is feeling the squeeze.
“Before, $1,500 would get me close to 6,000 shekels and cover my bills,” said Lauren Adilav, who works as a freelance editor for American authors. “I’m relying on money from the U.S. to cover my rent. If the shekel gets any stronger, I don’t know if I can.”
The exchange rate isn’t just punishing Americans in Israel. It’s also putting extreme pressure on the many Israeli charities and organizations that depend on donations from Jews abroad. Aish Hatorah, the Orthodox outreach organization based in Jerusalem, announced last month that it had laid off several employees and twice delayed salary payments to staff amid funding shortfalls driven largely by the strengthening shekel.
Leket Israel, the food rescue organization, has also felt the pressure. Its founder, Joseph Gitler, said the shift had made clear that Israeli nonprofits can no longer rely solely on overseas support. Shmulie Russel, director of Makom LaLelev, told JTA that his nonprofit, which provides direct aid to those recovering from addiction, is facing a similar financial crunch and might soon be forced to find ways to cut expenses.
“This is the biggest conversation happening in the Israeli NGO sector right now — how to deal with the strength of the shekel,” said Leah Aharoni, executive director of the group Our People, which helps Russian-speaking Jews immigrate to Israel. The majority of donations to Our People are made in dollars.
So far, Aharoni said, the organization has delayed making new hires. She anticipates more challenges ahead.
“It has made it absolutely impossible to plan,” she said. “This is happening across the NGO sector. We haven’t been forced to cut programs yet, but it’s only a matter of time.”
Aharoni added that she hasn’t wanted to raise the issue with her donors. “Everyone is reluctant to speak out, as donors are already feeling the fatigue of three years of war. Israel just isn’t at the top of their priorities anymore, and now we’re coming back to ask them to make up the difference,” she said. “So we cut where we can.”
The strength of the shekel has come as a surprise to many Israelis, who expected the economy to be weakened by yet another war, this time with Iran, that cratered tourism and heightened instability in daily life. Yet much of the shekel’s gain against the dollar has actually stemmed from the war, as the dollar has weakened and investors have flocked to Israel’s high-tech sector, and particularly its defense industry, which has been buoyed by the conflict.
“The high-tech industry, which historically leads growth in Israel, has been minimally hurt by the war given its reliance on international connections — and it continued to grow even in 2024, the worst year of the war,” said Michel Strawczynski, professor of economics at Hebrew University.
High-tech exports reached $78 billion in 2024, and in the first half of 2025, high-tech accounted for 57% of all Israeli exports, the highest share ever recorded.
For Adilav, who moved from Jerusalem to the West Bank to manage her costs since moving to Israel from upstate New York more than two decades ago, spending in the tech sector is cold comfort.
“The shekel being strong might be good for the 10 billionaires who dream up some app and sell it to Google for $40 billion, but it really affects the rest of us,” she said.
Exporters, meanwhile, have counter-intuitively watched their profit margins dwindle as the shekel gains. They are paid for their products in dollars, so as the shekel strengthens and the dollar weakens, they end up with fewer and fewer shekels to fund their operations and pay workers’ salaries.
The pinch is also coming for Americans who are buying Israeli real estate — a transaction that often happens “on paper,” or with Americans entering a contract to buy an apartment or home that is still being built. Those contracts rarely account for a volatile exchange rate.
“When their upcoming payment might have been 400,000 shekels, now they’re getting hit harder in dollars,” said Nachi Paris, a Jerusalem-based real estate agent who specializes in high-end properties.
Paris said contracts for apartments in development typically prohibit transfers before a buyer takes possession, leaving buyers legally obligated to spend more than they expected when they signed.
He said he believed concerns about antisemitism in the United States could drive middle-class American Jews who cannot afford second properties to make Israel their primary residence instead. But the exchange rate could be an obstacle.
“There’s a point where they can’t afford it,” Paris said. “Right now, it’s still psychological. They can still afford it, and Zionism is involved, and they want to move here, but there comes a point when you can’t afford it.”
With economists warning a stronger shekel can lead to employment drops and other negative consequences, calls have been growing on the Bank of Israel to intervene. But its options are limited, according to Strawczynski, who noted that paused rate cuts and rising inflation from oil prices and flight costs constrain the bank’s ability to act at least until the war ends.
For now, Americans in Israel are paying the price. Judy Diamond moved from New York four years ago with the goal of fully retiring from her career in finance. Not only has she set that aside as an immediate ambition, but she is trying to break her lease in the upscale Katamon neighborhood of Jerusalem because she can see that her savings, in dollars, won’t stretch as far as she anticipated.
“I just can’t afford my rent anymore,” Diamond said. “It’s keeping me up at night. It worked for three and a half years, and now the financial aspect of it has fallen apart.”
For Joel Haber, a Jerusalem-based guide who moved to Israel in 2009, the shekel’s rise has come at an especially painful time, when yet another war stopped the flow of travelers who pay hundreds of dollars for his food tours of his adopted city and its famous market.
“The battered dollar has been more of an added insult to the injury of the war,” he said.
Haber always quotes his prices in dollars, even for visitors not from the United States. “It’s a lot less scary to see a price of $300 than 900 shekels, especially for unfamiliar tourists,” he said.
Now, due to the strength of the shekel, Haber has taken what amounts to a 20% pay cut over the last year. He would like to raise his prices, but with the cost of visiting Israel already so high and a 50% reduction in tourist visits compared to 2022, Haber can’t afford to lose any more customers.
“I want to raise my prices so I can still pay my bills,” he said. “But if I look at it from the tourists’ perspective, it’s getting even more difficult for them to afford Israel. It hurts us both.”
This article originally appeared on JTA.org.
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The Netherlands will return to Eurovision after boycott over Israel
(JTA) — The Netherlands will return to the Eurovision Song Contest, overriding a broadcaster that withdrew over Israel’s actions in Gaza.
The Dutch organization that oversees public broadcasting, the Nederlandse Publieke Omroep, said on Wednesday that it will take over the country’s entry to Eurovision after Avrotros, the broadcaster that usually takes part in Eurovision for the Netherlands, pulled out of the 2027 event in Burgas, Bulgaria.
Avrotros said last month that it withdrew because the event “can no longer be considered neutral,” citing Israel’s inclusion amid “the severe humanitarian suffering in Gaza and the ongoing restrictions on press freedom.”
Avrotros dropped out of the most recent contest in May 2026, and the Netherlands did not participate after the NPO ruled out identifying another broadcaster. Spain, Ireland, Iceland and Slovenia also boycotted this year’s Eurovision. Israel’s participation in the world’s largest music contest has become a source of intense controversy, sparking mass protests. The contest drew 35 million fewer viewers this year.
For the next Eurovision, NPO is assigning the broadcaster NOS to provide coverage of the event and an “independent team of experts” to select the Dutch act.
“We understand that participation in the Eurovision Song Contest evokes mixed feelings in the Netherlands,” said Jet de Ranitz, the chairman of the NPO’s executive board. “We have explicitly asked the [European Broadcasting Union] to once again make the unifying character of the festival an important part of the event, in recognition of a time of geopolitical unrest, war, and polarization.”
The NPO added that the EBU, which owns the contest, has “taken significant steps regarding the rules of the Eurovision Song Contest.” The EBU introduced changes in August that included barring countries involved in armed conflict from hosting the competition. It also made adjustments to the voting process after accusations of politically motivated voting.
Avrotros said the new rules were not sufficient to ensure that Eurovision remains “independent and neutral.”
Martin Green, the director of Eurovision, said in a statement that the contest was “delighted to welcome the Netherlands back” in 2027.
Ireland is set to boycott Eurovision again in 2027 after RTÉ, the national broadcaster, said last week that its position “remains unchanged.”
RTÉ cited “the appalling and ongoing loss of lives in Gaza and the humanitarian crisis there which continues to put the lives of so many civilians at risk,” adding that it was “deeply concerned by the continued denial of independent access to international journalists to the territory.”
Spain could also stay out of Eurovision next year. José Pablo López, the president of Spanish broadcaster RTVE, announced at a Senate hearing on Tuesday that he supported a continued boycott, saying it was “painful that Israel continues to participate.”
Meanwhile, Belgium confirmed its participation despite calls for a boycott by its public media unions.
“Participation is in no way an endorsement or normalization of what is happening in Gaza and the rest of the world,” said Frederik Delaplace, the CEO of the Flemish broadcaster VRT. “We do note, however, that the EBU is no longer shying away from these difficult societal and geopolitical issues.”
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Police label shooting in Belleville, Ontario, a hate-motivated attack against the Jewish community
(JTA) — TORONTO – The shooter who opened fire on a Belleville, Ontario, synagogue Sunday evening committed an anti-Jewish hate-motivated offense, according to the city’s police chief.
“This was a deliberate attack directed at members of the Jewish community during one of the holiest observances of the year,” Belleville police chief Murray Rodd said at a press conference on Thursday, adding that the shooter had combustible materials, including gasoline, in his truck.
He said the threat posed to Jewish communities required increased alertness on the part of Canadian law enforcement. Police stationed outside the Sons of Jacob synagogue had engaged in a shootout with the assailant, Sean Ward, that prevented him from entering the building as members of the congregation were about to begin Yom Kippur services.
Rodd noted that the force had a long-time relationship with the Jewish community that involved “our proactive pre-positioning of on-duty staff” to ensure the safety of Jewish worshippers. “One of the messages to my colleagues around the province and the country is: It is clearly time that we all be proactive.”
Rodd said the efforts of Constables Jeff Smith and Michael McCurdy prevented the attacker from using the explosive materials he had with him, as well as a “significant” amount of ammunition.
Smith, who was stationed outside of Sons of Jacob to provide security, remains in critical condition but is making progress, according to Rodd. Ward later died of his wounds from the exchange with police.
“[The shooter] had the means, the mechanism, and the motive to perpetrate a greater act. The only thing that stopped entry into the synagogue to execute the intent were the two officers,” said Rodd. “He was equipped with other weapons and the means to carry on a gun battle for a long period of time.”
The CBC reported that police obtained a video of the attack in Belleville, a town over 100 miles east of Toronto on the north shore of Lake Ontario. On the video, Ward is heard shouting. Police report he is saying, “You are going to die for the Jews.”
Rodd confirmed that before Ward targeted the Sons of Jacob, he scoped out the synagogue grounds. “We know that there was a reconnaissance in the presence of our officer, but nothing that would have alarmed him or would have triggered him to be on the defensive,” Rodd said.
Ward was a former member of the Canadian Armed Forces. Rodd noted.
“He was shot multiple times in multiple places,” Rodd said. “He has everything extending from fractures to wounds, and is still bearing shrapnel.”
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US Senate Democrats seek sanctions on those facilitating controversial West Bank settlement project
(JTA) — A slate of U.S. Senate Democrats, led by staunch Israel supporter Chris Coons, is seeking to sanction individuals and businesses linked to a controversial settlement expansion in the West Bank.
The massive E1 project, which would add 3,401 housing units east of Jerusalem, would effectively bisect the West Bank, inhibiting the prospects for a contiguous Palestinian state in the West Bank. It would also further separate the West Bank from East Jerusalem, which Palestinians seek as the capital of a future state. Israel recently issued new construction tenders for the project, following the government’s approval of the plans last summer.
Coons, of Delaware, introduced legislation this week that would target “any foreign person” deemed “responsible for or complicit in” the construction or financing of, or investment in, the planned E1 settlement, as well as the leaders of any entity that has engaged in such activities.
“As Palestinian civilians face a campaign of devastation and fear from violent extremist settlers, the United States must send a strong message that this behavior is unacceptable,” Coons said in a statement.
Israel, he added, must demonstrate “that it remains committed to freedom, security, prosperity, and self-determination for all Israelis and Palestinians.”
Global leaders have slammed the prospective development, as have many U.S. lawmakers. Yet even amid the increased criticism of the Israeli government, the bill is unlikely to advance in a Congress with Republican majorities in both chambers.
Coons thus far has garnered support from 18 of the Senate’s 44 other Democrats, including three co-authors: Elizabeth Warren of Massachusetts, Ron Wyden of Oregon and Ruben Gallego of Arizona. Wyden is Jewish and a longtime Israel supporter.
“For decades, American presidents from both parties have warned successive Israeli governments that construction in E1 threatened the viability of a Palestinian state and was unacceptable to the United States,” Coons said.
As unlikely as it is that the bill will pass, its introduction is symbolic of the chasm that has grown in recent years between Israel and the Democratic Party. The legislation is led by Coons, who has a solid pro-Israel record. Previous sanctions backed by Democrats, including by former President Joe Biden, have generally targeted settler violence and offensive weapons, while this bill centers on what Israel’s government would regard as a conventional building project.
Warren, Wyden and Gallego all voted in favor of a failed resolution authored by independent Vermont Sen. Bernie Sanders, which sought to stop the sale of military bulldozers to Israel. Coons, who voted against the measure, was one of just seven Democrats to do so.
While Warren’s position on Israel has fluctuated in recent years, she has consistently maintained that Israel has a right to defend itself and has voted against measures to boycott, divest from and sanction Israel. But she has been a sharp critic of Israeli Prime Minister Benjamin Netanyahu and suggested conditioning military aid to Israel on compliance with U.S. and international humanitarian law.
Regarding the E1 settlement sanctions bill, Warren said the U.S. “must use all diplomatic and economic tools available to counter rapid settlement expansion and extremist settler violence.” These “spiraling trends” risk undermining “the prospect of lasting peace for Israelis and Palestinians,” she added.
The bill would sanction “foreign persons that have facilitated Israeli settlement construction in the E1 area,” including those who have submitted tender bids, offered guarantees to such bids, signed development or lease agreements, provided construction-related services or financed related infrastructure.
The sanctions would “block and prohibit all transactions in property and interests in property” of such a person in the U.S., with exceptions made for those providing humanitarian assistance or conducting intelligence activities in the area.
“The E1 settlement project is a move towards de facto annexation of the West Bank,” Warren stated. “Those who choose to facilitate settlement construction should understand that they risk losing access to the U.S. financial system.”
Wyden, who has a similar record of backing Israel while criticizing Netanyahu, slammed the prime minister’s “disgraceful policy of expanding West Bank settlements,” noting that such activity “crosses a clear red line and makes Palestinian statehood and lasting peace even more difficult.”
He, too, urged the U.S. to “stand up against Netanyahu’s campaign of violence and aggression against Palestinian civilians” by sanctioning those who “are complicit in this unlawful action.”
The fourth co-author, Gallego, in recent months has shifted his stance from pro-Israel centrist to a fierce and outspoken opponent of the country’s current military operations.
“Proposed Israeli construction of new settlement homes in the E1 area would cut off East Jerusalem from the West Bank and threaten a viable Palestinian state,” he said.
Describing the project as “a step in the wrong direction,” he noted that “for decades, Democrats and Republicans alike have pushed for a two-state solution.”
Coons, Warren, Wyden and Gallego are not alone in hammering the advancement of the E1 project. Their bill followed collective action taken by the United Kingdom, France and Canada earlier this month, when the countries decided to ban goods from West Bank settlements and Jewish areas of East Jerusalem.
At the same time, the U.K. and 11 other nations released a joint statement announcing “their intention to introduce national and/or support European restrictions on trade in goods with settlements which are illegal under international law.”
At the U.N. General Assembly on Tuesday, British Prime Minister Andy Burnham warned that the E1 settlement’s construction would “threaten to put a viable Palestinian state beyond reach.”
“We want to see the suffering and death finally come to an end,” Burnham added. “We want to see Israeli and Palestinian people living side by side in peace and security.”
Back in Washington, joining the four co-authors of the bill were 15 other senators who signed on as cosponsors, most of whom are likewise long-time allies of Israel but sharp critics of the Netanyahu government.
The co-sponsors include Michael Bennet of Colorado, Tammy Duckworth of Illinois, Martin Heinrich of New Mexico, Tim Kaine of Virginia, Mark Kelly of Arizona, Andy Kim of New Jersey, Jeff Merkley of Oregon, Chris Murphy of Connecticut, Patty Murray of Washington, Jack Reed of Rhode Island, Brian Schatz of Hawaii, Adam Schiff of California, Elissa Slotkin of Michigan, Chris Van Hollen of Maryland and Peter Welch of Vermont.
The liberal pro-Israel group J Street welcomed the legislation, with its president, Jeremy Ben-Ami, declaring “the end of the era in which right-wing Israeli governments could ignore U.S. demands to halt settlement expansion.”
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