To begin, Israel is a parliamentary republic state with the Israeli Shekel as its currency. The value of 1 Israeli shekel = 0.264445 U.S. dollars. Israel’s old Shekel was used by the people in the early 1980’s and it did not last long due to the inflation rate and it paved the way for the new Israel Shekel in 1985.
The new Israeli Shekel attained its currency to be convertible in 2003 and from 2007 it has been announced as a trading currency. The currency code for the new Israel Shekel is ILS.
What is currency exchange rate?
The currency rate of exchange is the rate by which a currency may be exchanged for another, usually with EUR/USD.
Is trading currencies safe?
There are gains and losses with currency trading and it all depends on the value of the currency at the time of purchase with the present value.
The Israeli Shekel can be exchanged in many parts of the world. As this currency being the currency for the state of Israel, it is not produced in Israel since the country has no mint. The coins are minted in Korea and the banknotes are produced in Switzerland. The 500 Shekel banknote have a portrait of Yitzhak Rabin after his assassination in 1995. The government of Israel has not implemented them and they have abandoned the plan of issuing the 500 shekel notes. The Israeli Shekel comes with different colors and with different sizes to differentiate between the notes. The below list shows you the color used in different notes.
20 shekel note uses green color.
50 shekel note uses purple color.
100 shekel note uses brown color.
200 shekel note uses red color.
Is it worth it to trade with the Israeli Shekel currency? It is worth it to invest your money in the Israeli Shekel as it has earned its standard in the exchange market.
The inflation rate in the state of Israel is 2.6 percent which is less when compared with other countries. This inflation rate decides whether the currency is to be high in the market or not. The fluctuation in values of currencies vary every day but for now this currency value has slipped down an average of 0.066 percent on December 23, 2011.
The Israeli banks have NIS 2.4 billion worth of exposure to the countries like Portugal, Ireland, Italy, Greece and Spain from an analysis. This currency strengthened its value against the US dollars a few days back and there is a possibility for it to rise in the future.
Certain predictions are made on this currency like 1,000,000 Israeli Shekelim can approximately equal to 213,700 USD. The statistics of this currency show that the value of the Israeli Shekel convinced most of the traders around the world and it has started to create an impact in the foreign exchange rates against the US dollar. So investing in the Israeli Shekel could be worth it at this stage where the inflation rate is less and the interest rate is comparative.
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