The Israeli New Shekel (ILS) is the official currency of Israel, issued and regulated by the Bank of Israel. Understanding the history, denominations, and exchange rates of the Israeli Shekel is essential for anyone interested in Israel’s economy or planning to visit the country.
Understanding the Israeli New Shekel (ILS)
The Israeli New Shekel (ILS) is the legal tender in Israel, replacing the old shekel in 1985. The currency code for the Israeli New Shekel is ILS, and its symbol is ₪. The Bank of Israel is the sole authority responsible for issuing and managing the Israeli currency.
The Israeli Shekel plays a crucial role in Israel’s economy, serving as a medium of exchange, a unit of account, and a store of value. It is widely used for daily transactions, investments, and international trade.
History of the Israeli Currency
Israel’s monetary history has undergone several changes since the country’s establishment in 1948. Initially, the country used the Palestine Pound, which was later replaced by the Israeli Pound in 1952. In 1980, due to high inflation, the Israeli Pound was replaced by the Shekel.
To combat hyperinflation, the Israeli government introduced the New Israeli Shekel (NIS) in 1985, with an exchange rate of 1,000 old shekalim to 1 NIS. Since then, the Bank of Israel has implemented various monetary policies to ensure the stability and value of the Israeli Shekel.
Banknotes and Coins of the Israeli Shekel
The Bank of Israel issues banknotes in denominations of NIS 20, NIS 50, NIS 100, and NIS 200. These banknotes feature prominent figures from Israel’s history, such as Moshe Sharett, the second Prime Minister of Israel, and Itzhak Ben-Zvi, the second President of Israel.
Israeli coins come in denominations of NIS 1/2, NIS 1, NIS 2, NIS 5, and NIS 10. The coins feature various designs, including the Jewish Brigade from World War II and the city of Ẕefat, a spiritual center of Kabbala.
USD to ILS Exchange Rate
The exchange rate between the US Dollar (USD) and the Israeli New Shekel (ILS) is an important factor for individuals and businesses dealing with these currencies. The USD to ILS exchange rate fluctuates based on various economic and political factors.
As of June 19, 2024, the exchange rate provided by Xe is 1 USD = 3.71896 ILS. This means that one US Dollar can be exchanged for approximately 3.72 Israeli New Shekels.
Current USD to ILS Exchange Rate
| USD | ILS |
|---|---|
| 1 | 3.71896 |
| 5 | 18.5948 |
| 10 | 37.1896 |
| 50 | 185.948 |
| 100 | 371.896 |
USD to ILS Exchange Rate History
Over the past 30 days, the USD to ILS exchange rate has ranged from a low of 3.6599 to a high of 3.7616, with an average rate of 3.7049. The 30-day volatility for this currency pair is 0.50%.
Looking at the 90-day history, the USD to ILS exchange rate has fluctuated between a low of 3.6075 and a high of 3.8194. The average rate during this period was 3.718, with a volatility of 0.53%.
ILS to USD Exchange Rate
For those interested in converting Israeli New Shekels to US Dollars, the ILS to USD exchange rate is equally important. This rate determines how many US Dollars can be obtained for a given amount of Israeli Shekels.
As of June 19, 2024, the exchange rate provided by Xe is 1 ILS = 0.268893 USD. This means that one Israeli New Shekel can be exchanged for approximately 0.27 US Dollars.
Current ILS to USD Exchange Rate
| ILS | USD |
|---|---|
| 1 | 0.268893 |
| 5 | 1.34447 |
| 10 | 2.68893 |
| 50 | 13.4447 |
| 100 | 26.8893 |
ILS to USD Exchange Rate History
Over the past 30 days, the ILS to USD exchange rate has ranged from a low of 0.26585 to a high of 0.27323, with an average rate of 0.26993. The 30-day volatility for this currency pair is 0.50%.
Considering the 90-day history, the ILS to USD exchange rate has fluctuated between a low of 0.26182 and a high of 0.2772. The average rate during this period was 0.269, with a volatility of 0.53%.
Exchange Rate Trends and Analysis
Analyzing exchange rate trends is crucial for individuals and businesses involved in currency exchange or international transactions. By understanding the patterns and fluctuations in exchange rates, one can make informed decisions and minimize risks associated with currency conversions.
Factors influencing exchange rates include economic indicators, political stability, interest rates, and global market sentiment. Keeping track of these factors can help predict future exchange rate movements.
30-Day Exchange Rate Trends
- USD to ILS: Low – 3.6599, High – 3.7616, Average – 3.7049, Volatility – 0.50%
- ILS to USD: Low – 0.26585, High – 0.27323, Average – 0.26993, Volatility – 0.50%
90-Day Exchange Rate Trends
- USD to ILS: Low – 3.6075, High – 3.8194, Average – 3.718, Volatility – 0.53%
- ILS to USD: Low – 0.26182, High – 0.2772, Average – 0.269, Volatility – 0.53%
Currency Exchange Tools and Resources
To make informed decisions related to currency exchange, it is essential to have access to reliable tools and resources. Xe, a leading provider of currency exchange services, offers a range of tools to help individuals and businesses navigate the world of foreign exchange.
Xe Currency Converter provides mid-market rates for informational purposes, allowing users to quickly convert between various currencies. The converter supports over 170 currencies and is updated regularly to reflect the latest exchange rates.
Xe Currency Charts enable users to create customized charts for any currency pair, helping them visualize historical exchange rate data and identify trends. These charts can be adjusted to display data over different time periods, such as 30 days, 90 days, or longer.
Xe Rate Alerts allow users to set up notifications for specific currency pairs and exchange rates. This feature is particularly useful for individuals and businesses that need to monitor exchange rates closely and make timely decisions based on market movements.
For businesses requiring commercial-grade exchange rates and currency data, Xe Currency Data API provides a reliable solution. The API powers rates for over 300 companies worldwide, ensuring accurate and up-to-date information for various applications.
The Xe App, available for mobile devices, offers users a convenient way to access live exchange rates, send money securely, set rate alerts, and receive notifications on the go. The app provides a user-friendly interface and ensures that users can stay informed about currency exchange matters wherever they are.
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