Israeli New Shekel (NIS) and US Dollar (USD)
The Israeli New Shekel replaces the old Shekel in 1996. Currently, the exchange rate for Israeli New Shekel (NIS) and US Dollar (USD) is about NIS 3.757 compared to 1 US Dollar(USD).
For a country where access is restricted by nationality (Israel is out of bounds for most nationalities from Arab countries), Israeli Shekel is nevertheless a hard currency, and the derivative is even traded on the Chicago Merchantile Exchange (CME). Therefore, the Israeli Shekel is in an enviable position of being one of the 20 currencies in the world where derivatives are publicly traded.
The Bank of Israel controls the monetary policy of Israel. As recent as August 2009 (more…)
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