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
ו-1.00

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.