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SHIR Interest Rate

Shekel overnight Interest Rate (SHIR)

The SHIR will be replacing the Telbor rate in interest rate derivative transactions, and will serve as the overnight interest rate for that day (same-day fixing). 

The decision to replace the Telbor rate is in line with decisions reached in major countries worldwide, according to which IBOR interest rates will be replaced with risk-free overnight interest rates.

The SHIR is equal to the Bank of Israel interest rate, but on days when the SHIR is not published, its value will be the same as it was on the last date of publication.

The Bank of Israel interest rate is determined by the Bank of Israel’s Monetary Committee eight times a year, generally on Mondays at 16:00.  The dates of the Bank of Israel interest rate's publication and application are published each year on the Bank of Israel’s website. [1]

The SHIR will be published on the Bank of Israel’s website ​by 11:00 am each day, except for Saturdays, Sundays, and additional dates as published and updated from time to time.

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The Bank of Israel has established a working team to implement the transition to the SHIR, headed by Tsila Billet Blank, of the Money Market and Liquidity Unit, in the Markets Department. 

For further information please call 02-655-2327 or email​.


[1] Publication dates of the Bank of Israel interest rate expected in 2024. The Monetary Committee may reach additional unscheduled decisions without prior notification

The publication by the Bank of Israel is intended solely for the sake of convenience, and does not impose any responsibility on the Bank of Israel