Currency Exchange Rates
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*The prices are indicative as of the beginning of the day
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Inflation in Palestine is moderate to low, and often below global rates, as well as significantly lower than in the MENA region. Domestic inflation trends depend mainly on external factors and, to a lesser extent, on domestic ones, where the domestic economy relies heavily on imports, mainly from Israel. The value and magnitude of inflation in the West Bank usually varies from that of Gaza Strip, due to the different price determinants. Movement in consumer prices in the West Bank are more susceptible to changes in global commodity prices, along with regional and global economic and political developments, while prices in Gaza are subject mainly to the long-lasting closure and blockade imposed on the Strip. During the coronavirus crisis, Palestine has mostly recorded deflation, however, it has returned to positive values in recent months.