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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 In the early 1990s, foreign-currency control was gradually repealed in a liberalization process.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. This page was last updated on: 11/12/2022
Currency name Representative rate
Up-to-date as of: 30/01
Daily change Graph
US Dollar USD 3.4680 Increase 0.873%
Pound GBP 4.2967 Increase 1.073%
Japanese Yen JPY 2.6644 Increase 0.665%
Euro EUR 3.7790 Increase 1.113%
Australian Dollar AUD 2.4537 Increase 0.553%
Canadian Dollar CAD 2.6014 Increase 0.951%
Danish Krone DKK 0.5080 Increase 1.095%
Norwegian Krone NOK 0.3506 Increase 0.979%
South African Rand ZAR 0.2003 Increase 0.401%
Swedish Krona SEK 0.3355 Increase 0.539%
Swiss Franc CHF 3.7687 Increase 1.149%
Jordanian Dinar JOD 4.8888 Increase 0.952%
10 Lebanese Pound LBP 0.0229 Increase 0.881%
Egyptian Pound EGP 0.1152 Increase 0.174%
NER Up-to-date as of: 30/01 NER Increase 0.987%