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 In the early 1990s, foreign-currency control was gradually repealed in a liberalization process.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: 07/02
Daily change Graph
US Dollar USD 3.5500 Decline ‎-0.281%
Pound GBP 4.4227 Increase 0.356%
Japanese Yen 100 units JPY 2.3380 Increase 0.103%
Euro EUR 3.6879 Decline ‎-0.011%
Australian Dollar AUD 2.2344 Increase 0.229%
Canadian Dollar CAD 2.4801 Decline ‎-0.052%
Danish Krone DKK 0.4943 Decline ‎-0.04%
Norwegian Krone NOK 0.3167 Increase 0.095%
South African Rand ZAR 0.1927 Increase 0.732%
Swedish Krona SEK 0.3264 Increase 0.184%
Swiss Franc CHF 3.9173 Decline ‎-0.354%
Jordanian Dinar JOD 5.0014 Decline ‎-0.297%
10 Lebanese Pound 10 units LBP 0.0004 0%
Egyptian Pound EGP 0.0706 Decline ‎-0.282%
Nominal Effective Up-to-date as of: 07/02 Decline ‎-0.128%