Converting from South Sudanese Pound (SSP) to Israeli Shekel (ILS)

What is South Sudanese Pound (SSP)

The South Sudanese pound (SSP) is the official currency of South Sudan, which became an independent nation in 2011. The SSP was introduced on July 18, 2011, replacing the Sudanese pound at par. The currency is subdivided into 100 piastres.

Banknotes of the South Sudanese pound come in various denominations, including 1, 5, 10, 25, 50, 100, 500, and 1000 SSP notes. Coins, though less commonly used, are available in smaller values. Due to the country's ongoing economic challenges, the SSP has faced significant fluctuations in value.

When converting from SSP to other currencies, it’s essential to check the current exchange rate, as it can vary widely based on the political and economic situation in South Sudan. In recent years, hyperinflation has made the SSP particularly volatile, leading many to seek stable foreign currencies for routine transactions.

What is Israeli Shekel (ILS)

The Israeli shekel (ILS) is the official currency of Israel and is symbolized with the abbreviation "₪". The shekel has been in use since 1980, replacing the older Israeli pound. One shekel is divided into 100 agorot.

The currency plays a critical role in the Israeli economy, which is characterized by diverse sectors, including technology, agriculture, and manufacturing. The Bank of Israel is responsible for issuing and regulating the shekel.

Israeli banknotes are available in several denominations: ₪20, ₪50, ₪100, and ₪200, while coins are minted in amounts of ₪0.10, ₪0.50, ₪1, ₪2, ₪5, and ₪10. The shekel is known for its relative stability compared to many other currencies in the region, and it is generally preferred for international trade within the Middle Eastern context.

Converting SSP to ILS

When you need to convert South Sudanese pounds (SSP) to Israeli shekels (ILS), you should consider the exchange rate, which fluctuates based on market conditions. To find the current rate, it's best to consult online currency converters or financial news websites.

The conversion formula can be expressed as:

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

For example, if the exchange rate is 1 SSP = 0.02 ILS, then converting 1,000 SSP would result in:

1,000 SSP × 0.02 ILS/SSP = 20 ILS

Remember that conversion rates may differ slightly among various financial institutions. Always check for the most accurate and up-to-date rates, especially when making international transactions. Being informed can help you plan your finances more effectively, whether you are traveling, remitting money, or investing.