How much is $50,000 worth in Israel today vs 2002?

Question

trying to combine inflation and currency exchange impacts on real value of dollars

Answer 1

In 2002 the NIS to Dollar rate was 4.7378.

Today, it's 3.246 (a 12 years low).

50,000 worthed 236,890 NIS back than, and 162,300 now.

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edit - the inflation of the Shekel since 2002 was about 6% but I don't know exactly how you take that into account

Answer 2

The answer above would be correct if no inflation existed in the world. However, as we in fact live in a constantly changing economy, inflation rates must be taken into account. Thus, the answer above is no good, for it only gives you the nominal change in the value of the $ versus the NIS but not the real change.