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  Home Page  > Currency exchange rates  > Changes in Exchange Rates 
Changes in Exchange Rates until October 1977

Changes in Exchange Rates Against the US$ and the Currency Basket
Until October 1977 - official rates(1)

Date of devaluation

US$ rate in Israeli pound

Currency basket rate


15.05.48 0.250
 
19.09.49(2) 0.357
 
01.01.54 1.80
 
10.02.62 3.00 Par value
Fixed rate*
19.11.67 3.50
 
22.08.71 4.20
 
10.11.74 6.00
 
18.06.75 6.12
 
05.08.75 6.24
 
09.09.75 6.36
 
28.09.75 7.00
 
24.11.75 7.10
 
04.01.76 7.24 Buying rate
 
11.02.76 7.38
 
15.03.76 7.52
 
19.04.76 7.67
 
20.05.76 7.82
 
24.06.76 7.97 Israeli pound  
19.07.76
8.12  
25.08.76
8.25  
29.09.76
8.40  
01.11.76
8.56  
24.11.76
8.73 Creeping devaluations
24.12.76
8.90  
17.01.77   9.07  
02.03.77
9.25  
21.03.77
9.42  
25.05.77
9.60  
04.07.77
9.79  
18.07.77
9.98  
01.08.77
10.17  
17.08.77
10.37  
20.09.77
10.57  
17.10.77
10.78  

(1) The exchange rates in Part A of the table are official rates, i.e., rates officially declared by the government. In addition to these, formal exchange rates are given for the period to 10.2.62; these rates applied to direct foreign-currency transactions and were binding. (On the difference between official and formal exchange rates see Michael Michaely, Israeli Exchange-Rate System, Jerusalem, Falk Institute, 1968.)

05.1948 - 09.1949

For hard currencies

0.333

05.1952 - 01.1954

For most commodities

0.714 and 1.00


For non-profit institutions

1.00

01.1954 - 08.1954

For most commodities

1.00


For non-profit institutions

1.30

08.1954 - 10.1955

For non-profit institutions

1.30

10.1955 - 04.1958

For non-profit institutions

1.50


(2) The change in the Israeli pound/dollar rate in September 1949 was derived from the reduction of the pound sterling - from £ 0.250 to £ 0.357 to the dollar.

Source:
15.05.1948 - 19.11.1967: Central Bureau of Statistics;
22.08.1971 - 17.10.1977: The Official Gazette
31.10.1977 - 03.01.1989: Bank of Israel circulars.

* With one-time adjustments.

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