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Israel Increases Dollar Rate for Organizations Cancels Scrip Operations

The Israel Treasury announced today that effective October 2 all public organizations which bring dollars into the country will receive one and-half pounds for each dollar instead of 1.3 pounds per dollar as previously.

In a parallel development, the Treasury announced deadlines for the ending of activities of gift and “scrip” companies operating abroad and in Israel under Israel Government license. The gift companies must cease operations abroad fid 3months. Arrangements will be made for the delivery of bona fide gift parcels from abroad for Israelis.