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 |
|
|
15.5.48 |
0.250 |
|
|
|
19.9.49(2) |
0.357(2) |
|
|
|
1.1.54 |
1.80 |
|
|
|
10.2.62 |
3.00 Par value |
|
Fixed rate* |
|
19.11.67 |
3.50 |
|
|
|
22.8.71 |
4.20 |
|
|
|
10.11.74 |
6.00 |
|
|
|
18.6.75 |
6.12 |
|
|
|
5.8.75 |
6.24 |
|
|
|
9.9.75 |
6.36 |
|
|
|
28.9.75 |
7.00 |
|
|
|
24.11.75 |
7.10 |
|
|
|
4.1.76 |
7.24 Buying rate |
|
|
|
11.2.76 |
7.38 |
|
|
|
15.3.76 |
7.52 |
|
|
|
19.4.76 |
7.67 |
|
|
|
20.5.76 |
7.82 |
|
|
|
24.6.76 |
7.97 |
Israeli pound |
|
|
19.7.76 |
|
8.12 |
|
|
25.8.76 |
|
8.25 |
|
|
29.9.76 |
|
8.40 |
|
|
1.11.76 |
|
8.56 |
|
|
24.11.76 |
|
8.73 |
Creeping devaluations |
|
24.12.76 |
|
8.90 |
|
|
17.1.77 |
|
9.07 |
|
|
2.3.77 |
|
9.25 |
|
|
21.3.77 |
|
9.42 |
|
|
25.5.77 |
|
9.60 |
|
|
4.7.77 |
|
9.79 |
|
|
18.7.77 |
|
9.98 |
|
|
1.8.77 |
|
10.17 |
|
|
17.8.77 |
|
10.37 |
|
|
20.9.77 |
|
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.)
|
9.1949-5.1948 |
For hard currencies |
0.333 |
|
1.1954-5.1952 |
For most commodities |
0.714 |
|
|
For non-profit institutions |
1.00 |
|
8.1954-1.1954 |
For most commodities |
1.00 |
|
|
For non-profit institutions |
1.30 |
|
10.1955-8.1954 |
For non-profit institutions |
1.30 |
|
4.1958-10.1955 |
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.