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Exchange Rates

Regulation of Foreign Currency Trading and Publishing the Representative Exchange Rate

Regulation of Foreign Currency Trading and Publishing the Representative Exchange Rate

Foreign currency trading takes place mainly between banks and their customers in Israel and abroad and among banks themselves. Today, the exchange rate policy is based on unrestrained fluctuation of the domestic currency against other currencies. However, the Bank reserves the right to intervene in foreign currency trading when necessary. In the early 1990s, foreign-currency control was gradually repealed in a liberalization process. Today, no control restrictions exist. Section 4(3) of the Law states that one of the functions of the Bank of Israel is "Supporting the orderly activity of the Foreign Currency market in Israel." In this capacity the Markets Department monitors market performance. On each foreign currency business day in Israel, the Bank of Israel publishes the representative exchange rate of the shekel against foreign currencies. The representative rate is based on the rate prevailing in the market at the time it is set. Importantly, the representative rate is an indicator of the exchange rate in use but has no obligatory status under law. Accordingly parties to transactions that are indexed to foreign currency may use any exchange rate on which they agree.
Currency name Representative rate
Up-to-date as of: 01/03
Daily change Graph
US Dollar USD 3.5650 Decline ‎-0.53%
Pound GBP 4.5049 Decline ‎-0.712%
Japanese Yen 100 units JPY 2.3666 Decline ‎-0.958%
Euro EUR 3.8549 Decline ‎-0.79%
Australian Dollar AUD 2.3161 Decline ‎-0.554%
Canadian Dollar CAD 2.6237 Decline ‎-0.557%
Danish Krone DKK 0.5171 Decline ‎-0.806%
Norwegian Krone NOK 0.3359 Decline ‎-0.533%
South African Rand ZAR 0.1854 Decline ‎-0.59%
Swedish Krona SEK 0.3441 Decline ‎-0.721%
Swiss Franc CHF 4.0232 Decline ‎-1.254%
Jordanian Dinar JOD 5.0281 Decline ‎-0.524%
10 Lebanese Pound 10 units LBP 0.0004 0%
Egyptian Pound EGP 0.1154 Decline ‎-0.517%
Nominal Effective Up-to-date as of: 01/03 Decline ‎-0.66%