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Pound Devalued Again

The Israel Pound was devalued again today as part of the government’s continuing efforts to combat the country’s worsening balance of payments deficit. The Pound is now valued at IL 7.24 to the dollar. The Pound previously stood at IL 7.10 to the dollar as a result of a devaluation 40 days ago. It has been devalued a total of 66 percent since November, 1974, when it stood at IL 4.20 to the dollar.