Converting from Israeli Shekel (ILS) to Indian Rupee (INR)

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel. It is abbreviated as ILS and often represented by the symbol ₪. The term "shekel" has ancient roots, going back to biblical times when it denoted a unit of weight used for currency. The modern shekel is subdivided into 100 agorot. The currency was reintroduced as the New Israeli Shekel (NIS) in 1985, replacing the old shekel at a rate of 1 NIS to 1,000 old shekels.

The Israeli economy is known for its diversity and innovation, heavily influenced by technology and start-ups. The Bank of Israel is responsible for issuing and managing the shekel, ensuring its stability against foreign currencies. The exchange rate of ILS fluctuates based on various factors, including economic indicators, political stability, and changes in the global market. For anyone considering travel or business in Israel, understanding the value of the ILS in relation to other currencies, such as the Indian Rupee (INR), is essential.

What is Indian Rupee (INR)

The Indian Rupee (INR) is the official currency of India, represented by the symbol ₹. The rupee has been a part of India’s monetary system for centuries, but the modern version was officially adopted in 1540 during the rule of Sher Shah Suri. The Indian Rupee is subdivided into 100 paise. The Reserve Bank of India (RBI) is responsible for managing the currency and ensuring stability in its value.

India has one of the largest economies in the world, and the rupee's value can be influenced by various factors, such as inflation, interest rates, and political developments. The exchange rate of INR against other currencies such as the Israeli Shekel is dynamic, changing constantly based on market conditions. For those looking to convert ILS to INR, having a basic understanding of both currencies is necessary for ensuring fair exchanges, especially when traveling or doing business.

Converting ILS to INR

To convert ILS to INR, individuals typically use foreign exchange services, banks, or online currency converters. The conversion rate can vary depending on the service provider and market conditions. For example, if the conversion rate is ＄1 ILS = 22 INR＄, then to convert 100 ILS to INR, you would use the formula:

100 ILS × 22 INR/ILS = 2200 INR

Understanding the exchange rate and how to convert ILS to INR can assist travelers in planning their budgets and help businesses in determining costs when trading internationally. Always check the most recent conversion rates before proceeding with any transaction.