Converting from Azerbaijani Manat (AZN) to Israeli Shekel (ILS)

What is Azerbaijani Manat (AZN)

The Azerbaijani Manat (AZN) is the official currency of Azerbaijan, a country located at the crossroads of Eastern Europe and Western Asia. Introduced in 1992, the manat replaced the Soviet ruble and was initially pegged to the U.S. dollar. Over the years, the currency has gone through a series of adjustments due to economic factors and changes in monetary policy.

The manat is further divided into 100 gopik. It features various denominations, including banknotes of 1, 5, 10, 20, 50, and 100 manat, as well as coins of 1, 3, 5, 10, 20, and 50 gopik. The Central Bank of Azerbaijan is responsible for issuing and regulating the currency.

As with any currency, the value of the manat fluctuates based on factors such as inflation, interest rates, and economic stability. For anyone dealing with international transactions, understanding the conversion rate between the manat and other currencies, including the Israeli shekel, is crucial.

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel. The term "shekel" has a rich history, dating back to ancient times when it referred to a weight measure for currency. With the establishment of the State of Israel in 1948, the modern shekel was introduced, although it underwent a revaluation in 1985, leading to the creation of the new shekel (NIS), which is frequently referred to simply as the shekel.

The shekel is subdivided into 100 agorot and is issued in both coins and banknotes. Common denominations of banknotes include 20, 50, 100, and 200 shekels, with coins in denominations of 0.10, 0.50, 1, 2, 5, and 10 shekels. The Bank of Israel is tasked with managing the currency's issuance, regulation, and stability.

Like the manat, the value of the Israeli shekel is influenced by various factors, such as the country’s economic conditions, investments, and trade balance. Understanding how the shekel compares to other currencies is valuable for tourists, businesses, and investors.

Converting AZN to ILS

When converting from Azerbaijani Manat (AZN) to Israeli Shekel (ILS), it’s important to find the current exchange rate. The conversion can be calculated using the formula:

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

Exchange rates can vary daily, depending on market forces. You can check reliable financial news websites, banks, or currency converters for the latest rates. This ensures you get an accurate conversion when making transactions or investments involving these two currencies.

Understanding both the Azerbaijani Manat and Israeli Shekel can help you navigate exchanges and boost your financial literacy when dealing with international currencies.