Israel: If you take 100 rupees from India to Israel, how much will it cost there? Where PM Modi visited

PM Modi’s visit to Israel is in discussion. He will be in Israel on 25 and 26 February. Israel not only shares technology with India, but is also ahead in trade. This is the second visit to Israel during the tenure of PM Modi. This visit is very special because Israeli PM Benjamin Netanyahu and PM Modi will review the strategic partner. The number of Indians in Israel is not less.

Figures from the Indian Embassy in Tel Aviv show that 85 thousand Jews in Israel are of Indian origin. They reached Israel in the 50s and 60s. Every year a large number of Indian tourists come to visit Israel. Tourists spend a lot after coming here. Know, if you go to Israel with 100 rupees from India, how much will you get there.

How is the currency?

Israel’s currency is quite different. The name of the official currency here is Israeli Shekel. This is shown by ILS code like INR is used for Indian currency. The symbol ₪ is written for the currency here. Shekel is an ancient word. Shekel currency was used in Israel until the 1980s. During that period, inflation started setting records here, so it was decided to remove this currency and introduce a new currency.

Israel New Shekels (1)

Israel’s currency.

In 1985, the New Shekel currency was introduced here in place of the Shekel. The notes here bear the faces of Israel’s famous litterateurs, leaders and scientists. Currently the New Shekel is considered one of the stable and strong currencies of the world. This is because Israel is very strong in terms of technology and startups.

Indian Currency

Indian currency (INR)

How much does 100 Indian rupees become in Israel?

Israel’s currency is quite different and strong. 10 Indian Rupees in Israel becomes 0.34 Israeli New Shekel. At the same time, if 100 rupees are taken from India to Israel, its value there will be 3.41 Israeli New Shekels. In this way the difference in currency of the two countries can be understood.

Why is Israel’s currency so strong?

Israel’s currency is considered much stronger than India’s. Many reasons account for this.

1- Technology based economy: Technology plays a big role in Israel’s economy. This country works a lot on cyber security, artificial intelligence and defense technology, which are in great demand today. This is the reason why they give impetus to the economy. Israel is also called Startup Nation.

2- Medical and Agri-Tech: This is a sector that brings foreign currency to Israel. Israel sends medical and agri-tech related equipment to the world and earns foreign exchange.

3- Foreign Investment (FDI): Many big companies of the world like Intel, Google and Microsoft have invested extensively in Israel. This investment has given impetus to the country’s economy.

4- Bank Policy: The bank policy here also has a big contribution in strengthening the country’s currency. The Bank of Israel controls the currency here. Along with this, it keeps inflation and interest rates balanced.

5- More exports, less imports: Israel’s policy has always been to increase exports as much as possible and reduce imports.

Also read: Which weapons does India import from Israel? Where PM Modi visited

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