Converting from Moroccan Dirham (MAD) to Israeli Shekel (ILS)

What is Moroccan Dirham (MAD)

The Moroccan Dirham (MAD) is the official currency of Morocco. It is subdivided into 100 centimes. The symbol for the dirham is "DH," and its ISO code is MAD. The dirham is issued and regulated by Bank Al-Maghrib, Morocco's central bank.

The currency has undergone various changes throughout its history, especially after Morocco gained independence from France in 1956. The dirham's value can fluctuate based on economic conditions, trade balances, and monetary policies. As of now, the exchange rate of MAD against major currencies is influenced by factors such as tourism, remittances, and foreign investment. The Moroccan economy is diverse, with strong sectors like agriculture, tourism, and manufacturing.

When converting MAD to other currencies, including the Israeli Shekel, it is important to check the latest exchange rates, as they can vary significantly. You can find this information at financial news websites or currency converter tools.

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel and is also used in the Palestinian territories. The shekel is further divided into 100 agorot, and its symbol is "₪." The ISO code for the Israeli Shekel is ILS. The Bank of Israel is responsible for issuing the currency and maintaining its stability.

The modern shekel was introduced in 1985, replacing the old shekel at a rate of 1 new shekel to 1,000 old shekels. As a currency, the shekel has shown resilience over the years, despite the region’s political and economic challenges. Many factors influence its value, such as inflation rates, economic growth, and political stability.

Israel's economy is known for its innovation and technology sector, making it one of the fastest-growing economies in the world. As a result, the shekel has gained significance not only in the region but also internationally.

Converting MAD to ILS

When converting Moroccan Dirhams to Israeli Shekels, it's essential to know the current exchange rate. The conversion can be done easily through banks, currency exchange offices, or online currency conversion services.

For a basic understanding, if you have an amount in MAD that you wish to convert to ILS, you can use the formula:

ILS = MAD × Exchange Rate (MAD to ILS)

This formula allows you to calculate how much you will receive in Israeli Shekels when converting Moroccan Dirhams.

Keep in mind that exchange rates fluctuate, so it’s always a good idea to check reliable financial sources for the most current rates before making any conversions or financial transactions.