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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 In the early 1990s, foreign-currency control was gradually repealed in a liberalization process.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: 19/04
Daily change Graph
US Dollar USD 3.7830 Increase 0.079%
Pound GBP 4.7065 Decline ‎-0.178%
Japanese Yen 100 units JPY 2.4509 Increase 0.106%
Euro EUR 4.0278 Decline ‎-0.213%
Australian Dollar AUD 2.4263 Decline ‎-0.439%
Canadian Dollar CAD 2.7490 0%
Danish Krone DKK 0.5398 Decline ‎-0.222%
Norwegian Krone NOK 0.3423 Decline ‎-0.436%
South African Rand ZAR 0.1966 Decline ‎-0.957%
Swedish Krona SEK 0.3447 Decline ‎-0.634%
Swiss Franc CHF 4.1663 Increase 0.166%
Jordanian Dinar JOD 5.3362 Increase 0.086%
10 Lebanese Pound 10 units LBP 0.0004 0%
Egyptian Pound EGP 0.0783 Increase 0.256%
Nominal Effective Up-to-date as of: 19/04 Decline ‎-0.079%