Converting from Albanian Lek (ALL) to Israeli Shekel (ILS)

What is Albanian Lek (ALL)

The Albanian Lek (ALL) is the official currency of Albania. Named after the national hero Gjergj Kastrioti, known as Skanderbeg, the lek has been in circulation since 1926. Initially pegged to various foreign currencies, the Lek has seen significant changes in its valuation over the years due to economic fluctuations and Albania’s transition to a market economy.

The symbol for the lek is "L" or "Lek," and it is subdivided into 100 qindarka, although qindarka coins are rarely used today. The Albanian Lek is an important part of the country’s economy, impacting trade, foreign investment, and daily transactions. When undertaking currency conversion, knowing the exchange rate between the Lek and other currencies, including the Israeli Shekel, is essential for businesses and travelers alike.

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel and is also used in the Palestinian territories. The name "shekel" originates from an ancient unit of weight and currency used in the region thousands of years ago. The modern shekel has gone through several transformations, with the current version, known as the New Israeli Shekel (NIS), being introduced in 1985 to combat hyperinflation.

The shekel is denoted by the symbol "₪" and is subdivided into 100 agorot. The currency is widely accepted in daily transactions and serves as a vital component of the Israeli economic landscape. The Israeli Shekel is important for both domestic and international trade, and understanding its exchange rate with other currencies is crucial for anyone engaging in financial activities in Israel.

Converting ALL to ILS

When converting Albanian Lek to Israeli Shekel, you should consider the current exchange rate, which can fluctuate due to market dynamics. Exchange rates can be influenced by various factors, such as economic indicators, geopolitical events, and market sentiment.

To calculate the conversion from ALL to ILS, the formula can be expressed as:

Amount in ILS = Amount in ALL × Exchange Rate (ALL to ILS)

For instance, if the exchange rate is 1 ALL = 0.015 ILS and you have 1,000 ALL, the calculation would be:

Amount in ILS = 1000 × 0.015 = 15 ILS

It is important to check reliable financial sources for the most current rates, as they can vary between banks, financial institutions, and currency exchange services. Being aware of these rates will help ensure that you get the best value when converting currencies for travel or trade.