1 Israeli Shekel to United Kingdom Pounds

Find the daily exchange rates for ILS/GBP and for all the top World currencies.

Countries That Use Israeli Shekel (ILS) as their official currency

The Israeli Shekel (ILS) is used as the main currency in the following countries: Israel, Palestine

Countries That Use United Kingdom Pound (GBP) as their official currency

The United Kingdom Pound (United Kingdom Pound) is used as the main currency in the following countries: South Georgia and the South Sandwich Islands, Guernsey, Isle of Man, Jersey, United Kingdom

About The Israeli Shekel (GBP)

The GBP - British Pound Sterling - is the official currency of the United Kingdom, which includes England, Scotland, Wales, and Northern Ireland. It is one of the oldest currencies still in use today, dating back over 1,200 years. The British Pound is symbolized by '£' and abbreviated as 'GBP,' which stands for 'Great British Pound.' The Pound is subdivided into 100 smaller units called 'pence.' Often referred to simply as 'Sterling,' the GBP is one of the world’s most widely traded currencies, reflecting the United Kingdom’s significant role in global finance and trade.

The origins of the British Pound date back to Anglo-Saxon England, where the term 'pound' referred to the weight of silver used in minting coins. The name 'Sterling' is thought to have originated from the Old Norman French word 'esterlin,' meaning 'little star,' which was stamped on early coins. Over the centuries, the British Pound has evolved, adapting through various forms and monetary systems, including the adoption of the gold standard in the 19th century, and eventually becoming a free-floating currency in the 1970s.

The Pound Sterling is managed by the Bank of England, the central bank of the United Kingdom, which was established in 1694. The Bank of England is responsible for issuing banknotes and regulating the currency’s supply to ensure economic stability. The bank also sets interest rates and controls monetary policy to manage inflation and support economic growth. The UK’s financial stability, combined with London’s status as a leading global financial center, makes the Pound an attractive currency for international investors and a major reserve currency alongside the US Dollar and the Euro.

The British Pound is issued in both coin and banknote forms. Coins are available in denominations of 1, 2, 5, 10, 20, and 50 pence, as well as 1 and 2 Pounds. Banknotes are issued in denominations of 5, 10, 20, and 50 Pounds. Each banknote features portraits of notable British figures, including Sir Winston Churchill, Jane Austen, and JMW Turner, as well as historical landmarks such as Westminster Abbey and the Tower of London. In recent years, the Bank of England has transitioned to polymer banknotes, which are more durable, environmentally friendly, and resistant to counterfeiting compared to traditional paper notes.

The British Pound is a free-floating currency, with its value determined by the foreign exchange market. The Pound’s value can be influenced by a variety of factors, including monetary policy decisions by the Bank of England, political developments, and economic indicators such as GDP growth, unemployment rates, and inflation. In recent years, significant political events like the Brexit referendum in 2016 have had a notable impact on the Pound’s value, reflecting market reactions to changes in the UK’s economic outlook and trade relationships.

The Pound Sterling is used throughout the United Kingdom and its territories, providing a stable medium of exchange for residents and businesses. It is also accepted in some British Overseas Territories and Crown Dependencies, such as Gibraltar, the Falkland Islands, and the Isle of Man, each of which issues its own version of the Pound. Tourists visiting the UK will find the Pound essential for all transactions, from exploring historic sites like Buckingham Palace and Edinburgh Castle to shopping in London’s bustling markets and enjoying the countryside of Wales and Northern Ireland.

As one of the world’s most established currencies, the British Pound remains a symbol of the UK’s economic heritage, stability, and influence. The UK’s robust financial sector, rich history, and status as a leading global economy contribute to the Pound’s enduring strength and significance. The GBP continues to serve as a vital part of the international financial system, and its role as both a reserve currency and a global trading currency underscores the UK’s ongoing importance in world finance and trade.

About The Israeli Shekel (ILS)

The ILS - Israeli New Shekel - is the official currency of Israel and the Palestinian territories of the West Bank and Gaza Strip. It is symbolized by '₪' and abbreviated as 'ILS,' which stands for 'Israeli Shekel.' The currency is commonly referred to as the 'shekel' or 'new shekel' (NIS) and is subdivided into 100 smaller units called 'agorot.' The shekel has become a significant part of Israel’s economy, reflecting the country's innovative industries, technological advancements, and overall economic resilience.

The New Shekel was introduced in 1986, replacing the hyperinflation-affected old shekel at a rate of 1,000 old shekels to 1 new shekel. This introduction was part of a broader economic stabilization effort that helped control rampant inflation and laid the foundation for Israel’s current economic growth. The New Shekel is issued and regulated by the Bank of Israel, which plays a key role in maintaining monetary stability and overseeing the country's financial system. The Bank of Israel also sets interest rates to manage inflation and ensure economic stability.

The Israeli economy is highly developed, with key sectors including technology, pharmaceuticals, agriculture, and finance. The Israeli New Shekel plays an important role in supporting these industries, facilitating both domestic and international trade. Israel is known for its thriving startup ecosystem, often referred to as the 'Startup Nation,' and the stability of the ILS has been crucial in attracting foreign investment and supporting economic growth. The New Shekel is a free-floating currency, with its value determined by market supply and demand, and is considered one of the more stable currencies in the region.

The Israeli New Shekel is issued in both coin and banknote forms. Coins are available in denominations of 10 and 50 agorot, as well as 1, 2, 5, and 10 shekels. Banknotes are issued in denominations of 20, 50, 100, and 200 shekels. Each banknote features prominent Israeli cultural and historical figures, such as poets Rachel Bluwstein and Shaul Tchernichovsky, reflecting the country's cultural heritage and pride. The reverse sides of the banknotes depict landscapes, symbols, and imagery related to Israel's history, culture, and natural beauty. The modern series of banknotes also includes advanced security features to prevent counterfeiting.

The Israeli New Shekel is used across Israel and the Palestinian territories for all forms of transactions, from everyday purchases to real estate and large business deals. Tourists visiting Israel will use the shekel for their travel expenses, including exploring famous attractions such as the Western Wall, the Dead Sea, and Tel Aviv’s vibrant beaches. The currency serves as a symbol of Israel's independence, economic strength, and ability to innovate and adapt, reflecting the dynamic nature of the country’s economy.

The Bank of Israel maintains an active role in managing the shekel’s exchange rate through monetary policy and foreign exchange interventions when necessary. This helps stabilize the currency during times of significant global economic fluctuations and ensures that Israel’s export-driven economy remains competitive. Despite being a relatively small country, Israel has a significant economic presence on the global stage, and the shekel plays an important role in its ongoing growth and development.

The Israeli New Shekel is not only a tool for economic transactions but also a representation of the country’s resilience and growth. From its early years of hyperinflation to becoming one of the more stable currencies in the Middle East, the shekel symbolizes Israel’s journey toward economic maturity and its position as a leader in innovation and technology. The stability and strength of the ILS have been instrumental in Israel’s success as a key player in the global economy, and it continues to reflect the ambitions and achievements of the Israeli people.

Israeli Shekel (ILS) Frequently Used Conversions