Converting from East Caribbean Dollar (XCD) to Israeli Shekel (ILS)

What is East Caribbean Dollar (XCD)

The East Caribbean Dollar (XCD) is the official currency used by several countries and territories in the Eastern Caribbean. It is issued by the Eastern Caribbean Central Bank (ECCB), which serves as the monetary authority for eight member states of the Organisation of Eastern Caribbean States (OECS). These countries include Saint Kitts and Nevis, Antigua and Barbuda, Dominica, Saint Lucia, Grenada, Saint Vincent and the Grenadines, Montserrat, and Anguilla.

The East Caribbean Dollar is divided into 100 cents. While the currency symbol is often written as “EC＄” to differentiate it from other dollars, the official code for the East Caribbean Dollar is XCD. The pegged value of the XCD is tied to the US Dollar (USD) at a rate of approximately ＄1 USD to ＄2.70 XCD. This stable exchange rate supports trade and investment among the countries using the XCD, making it an essential currency for both tourism and everyday transactions in the region.

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 was reintroduced as the official currency in 1985 after a period of hyperinflation and its predecessor, the old shekel, was rendered obsolete. The current currency is known as the New Israeli Shekel (NIS) and is abbreviated to ILS.

One Israeli Shekel is subdivided into 100 agorot. The currency symbol for the shekel is ₪, while its code is ILS. The Israeli economy is known for its innovation and technology sector, heavily influencing the shekel's value. The exchange rate of the shekel is influenced by various factors, including economic indicators, geopolitical stability, and global market trends.

Converting XCD to ILS

When converting from East Caribbean Dollars to Israeli Shekels, you need to check the current exchange rate, as it fluctuates based on market conditions. As of the latest available data, you can find the exchange rate through financial news services or currency converter websites. This will give you an updated rate in terms of how many XCD you need to exchange for a certain amount of ILS.

To perform the conversion, you can use the following formula:

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

For example, if the exchange rate is 1 XCD = 1.25 ILS, and you have 100 XCD, the conversion would be:

Amount in ILS = 100 × 1.25 = 125 ILS

By staying informed about the exchange rates, you can effectively manage your finances whether traveling or engaging in international trade.