Exchange rates

The Bank of Israel publishes representative and effective exchanges rates for the shekel against major currencies on a daily basis.  The representative rate against the US dollar is defined as the price of one dollar in shekel terms, and is calculated by the Bank of Israel on the basis of quotes by the banks during a number of hours in the day.  The rate against the other currencies is calculated as the multiple of the representative rate against the US dollar by an interchange rate against those currencies at the time of publication.

The effective exchange rates reflect the relative price of the shekel against a basket of currencies, in which the weight of each currency reflects its importance in Israel’s foreign trade.