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

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel. Its symbol is ₪, and the currency code is ILS. The Shekel has undergone several changes since it was first introduced in 1980, replacing the old Israeli pound. Since then, the Shekel has become an essential part of Israel's economy and is widely accepted for everyday transactions, from grocery shopping to larger purchases.

The Shekel is subdivided into 100 agorot, and coins come in different denominations, including 10, 50 agorot, and 1, 2, 5, and 10 shekels. Banknotes are available in denominations of 20, 50, 100, and 200 shekels. The Shekel's value can fluctuate based on various factors, including political stability, economic growth, and global market trends.

When considering a trip to Israel or planning to trade with Israeli partners, understanding the Shekel's current exchange rate against other currencies is crucial. The ILS is traded on international financial markets and its rate against the Bulgarian Lev (BGN) can vary daily.

What is Bulgarian Lev (BGN)

The Bulgarian Lev (BGN) is the official currency of Bulgaria, represented by the symbol лв and the currency code BGN. The Lev was first introduced in 1880, and it has undergone several changes and reforms over the years. The modern Lev replaced the previous Lev at a rate of 1 new Lev to 1,000 old Levs in 1999 as part of a monetary reform aimed at stabilizing the currency.

Each Lev is subdivided into 100 stotinki. Bulgarian currency includes coins of 1, 2, 5, 10, 20, 50 stotinki, and 1, 2, and 5 Leva, with banknotes available in denominations of 1, 2, 5, 10, 20, 50, 100, and 200 Leva.

Understanding the value of the Lev is important, especially for international travelers and businesses dealing in trade. Economic factors, such as inflation, interest rates, and external trade relations, can influence the value of the BGN compared to other currencies, including the ILS.

Conclusion

When converting between Israeli Shekels (ILS) and Bulgarian Levs (BGN), it’s essential to keep an eye on current exchange rates to get the best value. Tools like currency converters and financial news websites can assist in finding the most updated rates. Whether you are traveling, investing, or conducting business between Israel and Bulgaria, having a solid grasp of both currencies will help facilitate smoother transactions and economic interactions. Always consider seeking professional advice if large sums are involved, as currency exchange can also incur fees and varying rates.