This pair represents the US Dollar - Israeli Shekel cross. In this pair, the value of one US Dollar is quoted in terms of the Israeli Shekel. Israel represents a socialist country for most intensive purposes, and economic conditions are heavily influenced by the Bank of Israel and the Knessett or legislative branch of Israel. Consequently, a rapidly depreciating USD
following the global recession spurred Israeli Shekel strength until 2011, when aggressive stimulus efforts were offset by Euro-zone crisis issues.