Converting from Israeli Shekel (ILS) to Romanian New Leu (RON)

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel. It is abbreviated as ILS and is often represented by the symbol ₪. The Shekel has undergone several changes since its introduction, with the current version being known as the New Israeli Shekel (NIS), introduced in 1985 to replace the old Shekel at a rate of 1 NIS to 1,000 old Shekels.

The Shekel is subdivided into 100 agorot, which are smaller units of currency. The currency is issued by the Bank of Israel, and it plays a crucial role in the Israeli economy. The ILS is used for all types of transactions within Israel, including buying goods and services, conducting business, and trading.

The exchange rate of the Israeli Shekel can fluctuate based on various economic factors such as inflation, interest rates, and the overall stability of the Israeli economy. As a result, individuals and businesses engaging in international trade or travel often need to keep an eye on the current exchange rate between ILS and other currencies.

What is Romanian New Leu (RON)

The Romanian New Leu (RON) is the official currency of Romania. It is symbolized as lei and abbreviated as RON. Like the Shekel, the Leu has a rich history, with its formation dating back to the late 19th century. The Romanian New Leu was introduced in 2005 as a replacement for the old Leu, following a process of currency redenomination in which 10,000 old Lei became equivalent to 1 new Leu.

The Leu is also subdivided into 100 bani, which represent smaller units of currency. The National Bank of Romania (BNR) manages the issuance and regulation of the RON. The currency serves all economic functions within Romania, including everyday purchases and international transactions.

The exchange rate of the Romanian New Leu can also fluctuate, influenced by factors like inflation, political stability, and changes in Romania's economic performance. People frequently need to convert RON to other currencies when traveling or conducting trade, making the understanding of exchange rates essential.

Converting ILS to RON

To convert Israeli Shekels to Romanian New Lei, you can check the current exchange rate, which is typically provided by financial institutions and currency exchange services. The exchange can be calculated using the formula:

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

This calculation allows travelers and businesses to determine how much purchasing power they will have while in Romania. Whether you are visiting, investing, or conducting business, understanding the conversion from ILS to RON is essential for effective financial planning.