Price Of Us Dollar To Israeli New Shekel
Introduction
The US Dollar and the Israeli New Shekel are two of the most traded currencies in the world. The exchange rate between them is constantly changing, and it can have a significant impact on the economic relationship between the two countries. In this article, we will explore the current price of the US Dollar to the Israeli New Shekel and the factors that influence it.
What is the US Dollar?
The US Dollar is the official currency of the United States and is also used as a reserve currency by many other countries. It is abbreviated as USD and is symbolized with a dollar sign ($). The US Dollar is the most traded currency in the world and is used in international trade and commerce.
What is the Israeli New Shekel?
The Israeli New Shekel is the official currency of Israel and is abbreviated as ILS. It is symbolized with the Hebrew letter 'ש' and is subdivided into 100 agorot. The Israeli New Shekel is a relatively new currency, having been introduced in 1985 to replace the old Israeli Shekel.
Current Price of US Dollar to Israeli New Shekel
As of August 2021, the current price of 1 US Dollar to Israeli New Shekel is approximately 3.25 ILS. This means that if you were to exchange 1 USD for ILS, you would receive 3.25 ILS.
Factors that Influence the Exchange Rate
The exchange rate between the US Dollar and the Israeli New Shekel is influenced by several factors, including:
- Interest Rates: The interest rates set by the Federal Reserve and the Bank of Israel can influence the exchange rate between the two currencies. Higher interest rates in the US may attract foreign investors, increasing demand for the US Dollar and causing its value to rise relative to the Israeli New Shekel.
- Economic Performance: The economic performance of the two countries can also impact the exchange rate. For example, if the US economy is performing well, it may lead to an increase in demand for the US Dollar, causing its value to rise relative to the Israeli New Shekel.
- Political Stability: Political instability in either country can also impact the exchange rate. Uncertainty can lead to a decrease in demand for the currency, causing its value to fall relative to the other currency.
- Trade Balance: The trade balance between the two countries can also impact the exchange rate. If Israel exports more goods to the US than it imports, it may lead to an increase in demand for the Israeli New Shekel, causing its value to rise relative to the US Dollar.
Historical Exchange Rates
The exchange rate between the US Dollar and the Israeli New Shekel has varied over time. Here are some historical exchange rates:
- In 2016, 1 USD was equivalent to approximately 3.80 ILS.
- In 2018, 1 USD was equivalent to approximately 3.50 ILS.
- In 2020, 1 USD was equivalent to approximately 3.45 ILS.
Conclusion
The exchange rate between the US Dollar and the Israeli New Shekel is constantly changing and can be influenced by a variety of factors. As of August 2021, the current price of 1 USD to ILS is approximately 3.25 ILS. Understanding the factors that influence the exchange rate can help individuals and businesses make informed decisions when it comes to exchanging currencies.