Converting from New Zealand Dollar (NZD) to Israeli Shekel (ILS)

What is New Zealand Dollar (NZD)

The New Zealand Dollar (NZD) is the official currency of New Zealand and is also used in some of its territories, including the Cook Islands, Niue, and Tokelau. The NZD was first introduced in 1967, replacing the New Zealand pound at a rate of two NZD for one pound. The currency symbol for the New Zealand Dollar is "＄", with "NZD" being its international currency code.

The New Zealand Dollar is subdivided into 100 cents, and its coins come in the following denominations: 10 cents, 20 cents, 50 cents, ＄1, and ＄2. Banknotes are available in ＄5, ＄10, ＄20, ＄50, and ＄100 denominations. The currency is known for its stability and is often used in global trading.

One notable aspect of the NZD is its value relative to other currencies, which can vary due to factors such as economic performance, political stability, and changes in interest rates. Investors and traders often monitor the exchange rate for NZD against other currencies, including the Israeli Shekel (ILS), to make informed decisions in their transactions.

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the official currency of Israel and is also used in the Palestinian territories of the West Bank and Gaza Strip. The Shekel has a fascinating history that dates back to ancient times; however, the modern version was reintroduced in 1985, replacing the old Israeli Shekel. The currency's symbol is "₪", while its international currency code is "ILS".

Like the NZD, the Israeli Shekel is subdivided into 100 agorot. Coins come in various denominations, including 10 agorot, 0.5 shekel, 1 shekel, 2 shekels, 5 shekels, and 10 shekels. The banknotes are issued in denominations of 20 shekels, 50 shekels, 100 shekels, and 200 shekels. The design of the banknotes features notable Israeli figures and cultural symbols, reflecting the nation’s heritage.

Exchange rates for ILS are influenced by Israel's economy, which is characterized by high-tech industries, agriculture, and tourism. Investors watch the ILS for its performance against other currencies, making the conversion rates between the NZD and the ILS an important aspect for anyone trading or traveling between the two regions.

When converting from NZD to ILS, it is important to consider the current exchange rate. This is typically quoted as the number of ILS you get for a single NZD. For example, if the exchange rate is 1 NZD = 2.2 ILS, then converting ＄100 NZD would give you ＄220 ILS. You can express the relationship mathematically as:

Amount in ILS = Amount in NZD × Exchange Rate

Understanding both currencies and their economies will help individuals and businesses effectively navigate their financial transactions between New Zealand and Israel.