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

What is Romanian New Leu (RON)

The Romanian New Leu (RON) is the official currency of Romania. Introduced in 2005, the New Leu replaced the old Leu at a conversion rate of 10,000 old Lei to 1 New Leu. The name "Leu" translates to "lion" in English, a symbol representing strength. The currency symbol for the Romanian New Leu is "lei" or "RON".

The Romanian economy has seen significant changes in recent years, marked by growth in various sectors, including IT, agriculture, and manufacturing. The Central Bank of Romania (Banca Națională a României) is responsible for issuing currency and managing monetary policy.

Coins are available in denominations of 1, 5, 10, 50 bani, and notes come in values of 1, 5, 10, 50, 100, 200, 500, and 1,000 lei. In the international forex market, RON is often noted alongside popular currencies, and its exchange rate can be influenced by Romania's integration into the European Union (EU) and its economic policies.

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS), known locally as "שקל" (shekel), is the official currency of Israel. The Shekel has a rich historical background, as the term was first used in ancient times for weights of gold or silver. The current Shekel was reintroduced as the New Israeli Shekel (NIS) in 1985, after a period of hyperinflation. The symbol for the Shekel is "₪".

The Bank of Israel is responsible for the issuance and regulation of the Shekel. The Shekel is subdivided into 100 agorot. Banknotes are available in denominations of 20, 50, 100, and 200 shekels, while coins are available in denominations of 10 agorot, 0.1, 0.5, 1, 2, 5, and 10 shekels.

Israel's economy is primarily driven by advanced technology, agriculture, and manufacturing. The Shekel's value can fluctuate based on economic indicators, political stability, and the performance of global markets. Consequently, the exchange rate between RON and ILS can vary, leading to different conversion values at different times.

Converting RON to ILS

To convert from RON to ILS, one must check the current exchange rate as it can change daily based on market conditions. You can usually find this information on financial websites or currency converter tools.

As a quick reference, if for example, 1 RON is equivalent to 0.75 ILS, you can calculate the amount by multiplying the number of RON by the exchange rate:

Amount in ILS = Amount in RON × 0.75

When exchanging money or planning to travel, be sure to check the current rate and any fees associated with currency conversion.