Exchange Rate Dollar To Shekel Graph 20 Years
The exchange rate between the US Dollar and Israeli Shekel has been a topic of interest for many people, especially those who are involved in international trade or travel. The exchange rate determines how much one currency is worth in relation to the other currency. In this article, we will discuss the exchange rate between the Dollar and Shekel over the past 20 years.
What is the Exchange Rate?
The exchange rate is the value of one currency in relation to another currency. For example, if the exchange rate between the US Dollar and Israeli Shekel is 3.5, it means that one US Dollar is worth 3.5 Israeli Shekels. The exchange rate can fluctuate over time due to various factors such as political events, economic conditions, and market forces.
Exchange Rate Dollar to Shekel Graph 20 Years
The exchange rate between the Dollar and Shekel has been volatile over the past 20 years. In 2002, one US Dollar was worth around 4.5 Shekels, but by 2008, the exchange rate had risen to over 4.0 Shekels per Dollar. This was due to a weakening of the US economy and a strengthening of the Israeli economy.
However, in 2011, the exchange rate began to shift in favor of the US Dollar. By 2013, the exchange rate had fallen to around 3.5 Shekels per Dollar. This was due to several factors, including a strengthening of the US economy, a weakening of the Israeli economy, and geopolitical tensions in the region.
Since then, the exchange rate has remained relatively stable, hovering around 3.5 to 3.8 Shekels per Dollar. However, there have been some significant fluctuations in recent years. For example, in early 2020, the exchange rate briefly rose to over 3.9 Shekels per Dollar due to uncertainty in the global economy caused by the COVID-19 pandemic.
Factors that Affect the Exchange Rate
There are many factors that can affect the exchange rate between the Dollar and Shekel. Some of these factors include:
- Economic conditions in the US and Israel
- Interest rates set by the central banks of both countries
- Political stability in the region
- Geopolitical tensions
- Trade agreements between the US and Israel
All of these factors can have a significant impact on the exchange rate between the Dollar and Shekel. For example, if the US economy is strong and interest rates are high, it may lead to a stronger Dollar and a weaker Shekel. Similarly, if there is political instability in the region, it may lead to a weaker Shekel due to a lack of investor confidence.
Conclusion
The exchange rate between the US Dollar and Israeli Shekel has been volatile over the past 20 years. While it has remained relatively stable in recent years, there have been some significant fluctuations due to various factors such as economic conditions, interest rates, and geopolitical tensions. As such, it is important for those involved in international trade or travel to keep an eye on the exchange rate and understand the factors that can affect it.