Converting from Israeli Shekel (ILS) to CFA Franc - BEAC (XAF)

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel. It is also used in the Palestinian territories of the West Bank and Gaza Strip. The shekel is divided into 100 agorot. The term "shekel" has historic roots, as it refers to a unit of weight that was used in ancient times for trade.

The shekel was reintroduced as the country's currency in 1985, replacing the old shekel, which had suffered from hyperinflation. Since then, the new Israeli Shekel has become a stable currency, thanks in part to Israel's robust economy and technological advancements. The symbol for the shekel is ₪, while its code is ILS.

The Shekel is traded on the foreign exchange market and is subject to fluctuations based on economic conditions, market demand, and geopolitical situations. When converting ILS to other currencies, various factors such as inflation rates, interest rates, and political stability can influence the exchange rate.

What is CFA Franc - BEAC (XAF)

The CFA Franc - BEAC (XAF) is the currency used by six Central African countries that are part of the Economic and Monetary Community of Central Africa (CEMAC). These countries include Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. The CFA Franc was introduced in 1945 and is subdivided into 100 centimes.

What distinguishes the XAF from other currencies is its fixed exchange rate with the Euro, which helps provide stability. The CFA Franc - BEAC is issued by the Bank of Central African States (BEAC), which manages monetary policy for the member countries. The symbol for the CFA Franc is FCFA, while its code is XAF.

The exchange rate of the XAF can also be influenced by various factors, such as economic performance, commodity prices (particularly oil), and policies of the BEAC. The currency is not as widely traded globally as other major currencies, which may affect its liquidity.

Converting ILS to XAF

When converting Israeli Shekels to CFA Francs, it is important to check the current exchange rate as it can fluctuate. You can typically find the latest conversion rates on financial news websites, banks, and currency converter tools. The conversion can be expressed as:

XAF = ILS × Exchange Rate

For example, if the exchange rate is 1 ILS = 150 XAF, then converting 100 ILS would yield:

XAF = 100 ILS × 150 XAF/ILS = 15,000 XAF

Understanding the conversion between these two currencies is crucial for travelers, businesses, and individuals working in or trading with these regions. By keeping an eye on the market, you can make educated decisions that benefit your financial transactions.