Currency of Israel: features, exchange rate, where to change it

Israel is a country with a developed economy and trade, attracting tourists from all over the world. For a comfortable stay in Israel, it is important to understand the peculiarities of the local currency, exchange rates and places where it can be exchanged. In this article we will look at the currency of Israel – the Israeli shekel (ILS), its features and where it can be exchanged for other currencies.

Features of the Israeli shekel

The official currency of Israel is the Israeli shekel (ILS). The abbreviations NIS (New Israeli Shekel) or simply ₪ are often used in the country. A shekel is divided into 100 agorot.

In circulation are bills of the following denominations:

• 20 shekels;
• 50 shekels;
• 100 shekels;
• 200 shekels.

There are also coins in Israel:

• 10 agorot;
• 1/2 shekel;
• 1 shekel;
• 2 shekels;
• 5 shekels;
• 10 shekels.

Currency exchange rate

The exchange rate of the Israeli shekel can fluctuate depending on the global economic situation and the actions of the Bank of Israel. To get the current exchange rate, it is recommended to refer to official sources, such as the sites of banks, specialized exchangers or mobile applications.

Where to change currency?

There are several ways to exchange currency in Israel:

1. Banks. Most banks in Israel offer currency exchange services. However, it is worth considering that banks may charge a fee for the exchange service, and working hours of banks may be limited.
2. Exchange Points. In Israel, quite widespread specialized exchange offices, where you can exchange currency at a better rate than the banks. They are usually located in large shopping malls, tourist areas and in the area of large hotels. Please note that some exchange offices may charge fees, so compare the exchange rate and terms before making a transaction.
3. Airports. There are exchange offices at Ben Gurion International Airport, as well as at other Israeli airports. However, it is worth noting that the rate at airports may be less favorable, and the commissions – higher than in the city.
4. Automatic exchangers. In some places in Israel you can find automatic currency exchangers. Keep in mind that they may offer a less favorable rate and charge a fee for the exchange.

If you plan to use a bank card to pay for goods and services in Israel, check with your bank, which fees and exchange rates apply to transactions in foreign currency. In some cases, using a bank card can be more profitable than exchanging cash.

Conclusion

The Israeli shekel is the official currency of Israel, and knowledge of the features of the currency, as well as places and ways to exchange, will facilitate your stay and travel around the country. When choosing a place to exchange currency, pay attention to the rate, fees and conditions of the exchange to get the most favorable offer.

Don’t forget that at www.4Israel.co.il you can post free ads and get translations in the most popular languages in Israel. For entrepreneurs and dealers, it is possible to choose a nice subdomain name, such as mazgan.4israel.co.il. Take advantage of the site’s convenient features to promote your business or offer services.

Helpful hints

Some useful tips for those traveling to Israel:

• Try to have a small amount of cash for unplanned incidental expenses, such as tips or public transportation.
• When planning a trip to Israel, follow the exchange rate of the Israeli shekel in advance to understand when it is better to exchange currency.
• In the case of exchanging large sums, it is recommended to compare exchange rates and conditions in different places to get the most favorable offer.
• When using bank cards in Israel, make sure that your card supports international transactions, and check the fees and exchange rates with your bank.

We hope that this information will help you navigate the peculiarities of the Israeli currency and currency exchange in Israel. We wish you a pleasant journey and good deals at www.4Israel.co.il!