The Israeli Shekel is the currency of the state of Israel and it has a shekel sign marked within it. What is the history behind the Israeli Shekel currency? The old shekel suffered a sudden decrease in value during the early 1980’s which led to the beginning of the new shekel currency. On September 1985, the rate of 1 new shekel was equal to 1000 old shekels and now 1 Israeli shekel = 0.264536 U.S. dollars, according to the present currency conversion.
Is theIsraeli Shekel a convertible currency? Yes it has been made a free convertible currency from the beginning of the year 2003. The Shekel has indeed started its trading on the global markets and it has shown its steady progress with its rates till now. The inflation rate is lower throughout the West from UK to the US and from the statistical report it is evident that these countries have an annual inflation rate of 3 percent and above.
Is it worth to invest in the Israeli Shekel market? Nowadays investors have started to invest their money in the Israeli Shekel due to many reasons. The reasons are mainly due to
A decrease in the economy a few years ago but the economy status has increased significantly in a matter of days till this date. This has given more assurance for the investors and the unemployment has been diminished to the most inside state of Israel.
The Israeli government has issued a short, medium duration and long term maturities bond in which the interest rates are fixed or adjustable and it is linked to the Israel Consumer Price Index which naturally prevents a hedge against inflation. This has created a denser assurance for the investors who are investing in the Israeli Shekel market.
So investing in the Israeli Shekel trading market is more viable in comparing with the US dollar. The Israeli government bond has created a mutual understanding between the interest rates and the economy of Israel and this has led investors from all over the world to invest in the Israeli Shekel. The future of this currency has been predicted to have a reasonable change which wouldn’t affect the economy growth of Israel for at least three years or so. It has also been predicted that 1,000,000 Israeli Shekelim is approximately equal to 213,700 USD as of 3/28/06.
The Israeli Shekel currency is one of the economic markets which has risen up from its fall and has a steady improvement after its rise till this period. Currencies will have their own growth and fall which depends upon the country’s Consumer Price Index’s annualized percentage change. Most of the economists do favor to have a low steady inflation rate so that the economic recessions are reduced to some extent. The investors are very much confident as they have started to see Israel’s steady growth in their economy even though other currencies have dropped down in their values. If you ask me whether it is worth in investing in the Israeli Shekel? I would probably say yes since the economic status and the predictions on the Israeli Shekel are positive and have a great future in the market. The symbol which is used in this currency is an acronym and it is a symbol which combines two Hebrew letters.
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