Israel Establishes Better Exchange Rates for Tourists

Tourists who bring foreign currency into Israel this year will receive an 80 percent bonus, the Israel Government announced this week-end.

Up to now, the government exchanged dollars for tourists at the rate of one dollar to a pound. Now, tourists purchasing a letter of credit will receive credit for their currency at the old rate, plus a cash bonus amounting to 80 percent of the total. However, certain reductions in the price of tourist accommodations will be abolished.