Converting from Bulgarian Lev (BGN) to Israeli Shekel (ILS)

What is Bulgarian Lev (BGN)

The Bulgarian Lev (BGN) is the official currency of Bulgaria, a country situated in Southeast Europe. The term "Lev" originates from the word "lion" in Bulgarian, which is a nod to historical currency designs featuring the lion symbol. The Lev is subdivided into 100 stotinki.

The Lev replaced the Bulgarian Socialist Lev in 1999, establishing a fixed exchange rate pegged to the Euro. Using the Lev in financial transactions is essential for both locals and tourists as it facilitates daily purchases. The currency is typically denoted by the symbol лв.

BGN is used for various economic activities, including trade, savings, and investment. With Bulgaria being a member of the European Union since 2007, the Lev benefits from economic stability, though it has not adopted the Euro yet. When engaging in currency conversion, it is crucial to be aware of the exchange rates, which can vary based on market conditions.

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel and is subdivided into 100 agorot. The Shekel has undergone various transformations throughout history, with the name "Shekel" being used as early as 3,000 years ago in the ancient Middle East. Today’s Shekel is known for its stability and is widely accepted in Israel and recognized in some neighboring countries.

The current form of the Shekel has been in use since 1985, following a series of economic reforms to stabilize the currency. The Shekel is designated by the symbol ₪. It plays a vital role in Israel's economy, influencing prices, trade, and financial markets. The currency is characterized by its flexibility in exchange rates in comparison to other global currencies.

When converting BGN to ILS, one must keep in mind the current exchange rate, which fluctuates due to various economic factors. As of the latest data, the exchange rate is determined by both supply and demand in addition to government monetary policies. It's advisable to check reliable forex platforms or financial news outlets for up-to-date conversion rates to ensure accurate transactions.

Conversion Process

To convert Bulgarian Lev to Israeli Shekels, you can use various methods like online currency converters, banks, or currency exchange offices. Simply multiply the amount in BGN by the current exchange rate to get the equivalent in ILS. For example, if 1 BGN equals 2 ILS, then 100 BGN would convert to 200 ILS.

Understanding how to convert these currencies accurately can help travelers and businesses navigate exchanges effortlessly and make informed financial decisions. Make sure to factor in possible fees when converting currencies, as these can affect the total amount received.