Welcome to the most comprehensive currency conversion category in Israel. Here you will be able to convert more than 150 foreign currencies into the domestic currency or into other foreign currencies with a simple click of a button! The currency rates on our site are updated and are up-to-date at all times!
Currency Rates |
Currency rates vary from day to day and, every day in which there is currency trading, the value of a particular currency will change compared with other days.
There are a number of factors that have an effect on currency rates and the major factors include the amount of money that a particular country prints, government and central bank intervention in establishing the currency value and changes in the value of foreign currency rates.
Cross rates |
Currency exchange or cross rates are the rates of two types of currencies based on the value of a third currency type. In Israel, the currency rates are usually computed by comparing them with the US dollar.
Calculating and quoting currency rates without using the value of the US dollar is called a cross rate; for example, computing the value of the euro using the values of the Japanese yen and British pound sterling.
The real-time dynamic rate is the most updated currency rate as calculated on the forex trading day. Exchanges are executed based on the real-time dynamic rate in a decisive majority of cases. However, forex sellers add an exchange commission to the real-time dynamic rates, thus the real value of this rate does not represent the price that should be paid for conversion of the currency.
What is a fixed exchange rate?
A fixed exchange rate is the currency rate set by a legal economic authority or the government. The fixed exchange rate can be changed via two methods – By raising it (an action known as “appreciation or revaluing”), or by reducing it (an action known as “depreciation or devaluing”). A single country or a number of countries simultaneously set the value of a fixed exchange rate. In order to avoid a spread between the value of a currency and the market forces, the central bank in a country, in which the fixed exchange rate is set, can intervene and change the exchange rate value.
How are currency rates established?
Currency rates vary from day to day and, every day in which there is currency trading, the value of a particular currency will change compared with other days. There are a number of factors that have an effect on currency rates and the major factors include the amount of money that a particular country prints, government and central bank intervention in establishing the currency value and changes in the value of foreign currency exchange rates.
What are forex rates?
Forex rates are values of a foreign currency; currently there are two types of forex rates – A representative rate and a real-time dynamic rate. Representative forex rates are rates that are set once a day and are especially important in legal matters, such as signing financial contracts pursuant to the value of the currency on the date on which the contracts are signed. The real-time dynamic rate is the current rate of a foreign currency pursuant to which the conversion rates are set with the addition of a margin and conversion commissions.