Converting from Gambian Dalasi (GMD) to Israeli Shekel (ILS)

What is Gambian Dalasi (GMD)

The Gambian Dalasi (GMD) is the official currency of The Gambia, a small country located on the west coast of Africa. The Dalasi is subdivided into 100 bututs. Introduced in 1971, it replaced the Gambian pound at a rate of 1 Dalasi to 1 pound. The currency is issued by the Central Bank of The Gambia, which is responsible for managing the country's monetary policy.

Banknotes come in various denominations, including 1, 5, 10, 20, 50, 100, and 200 Dalasi. Coins are available in 1, 5, 10, 25, 50 bututs, and 1 Dalasi. The Dalasi is often used for everyday transactions, from buying food at local markets to paying for services.

Understanding the current exchange rate is crucial for anyone looking to convert GMD to other currencies, including the Israeli Shekel. The exchange rate can fluctuate based on various factors, such as economic conditions, inflation rates, and market demand. Therefore, it's advisable to check the most up-to-date rates before making any conversions.

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel. The Shekel is represented by the symbol ₪ and is subdivided into 100 agorot. The modern Shekel was introduced in 1985, replacing the old Israeli pound, and has been a stable currency since its inception. The Bank of Israel is the institution responsible for issuing the currency and overseeing its regulation.

The Shekel comes in several denominations, including coins of 10 agorot, 0.10, 0.50, 1, 2, 5, and 10 Shekels, along with banknotes of 20, 50, 100, and 200 Shekels. The currency is widely accepted throughout Israel for everyday transactions and is also increasingly recognized in global markets.

When converting from Gambian Dalasi to Israeli Shekel, you need to keep in mind the exchange rate, which can vary based on economic conditions in both countries. The formula for converting GMD to ILS can be expressed as:

ILS = GMD × Exchange Rate (GMD to ILS)

For instance, if the exchange rate is 0.10, converting 100 GMD would yield:

ILS = 100 × 0.10 = 10 ILS

In conclusion, whether you are traveling, sending remittances, or conducting business, understanding the conversion between Gambian Dalasi and Israeli Shekel is essential. Always check the latest exchange rates to ensure you are making informed financial decisions.