Israeli New Shekel

ILS

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Floating
Currency Reference Centre

Available Currency Pairs

EURILS

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USDILS

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GBPILS

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CHFILS

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AUDILS

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CADILS

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ILSAED

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ILSCNY

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ILSCZK

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ILSDKK

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ILSHKD

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ILSHUF

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ILSJPY

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ILSMXN

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ILSNOK

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ILSSEK

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ILSTHB

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ILSZAR

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NZDILS

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PLNILS

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RONILS

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SGDILS

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USDILS

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Transaction Types

FX SPOT
Delivery date: T+1; T+2
Liquidity: high
FX FORWARD
Maximum maturity: 24 months
Liquidity: high

Did You Know?

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Monetary policy

  • The Bank of Israel (BoI) is Israel’s monetary authority. Its objective is to maintain price stability.
  • Price setting method: the floating exchange rate is described as “supervised”, because the BoI is likely to make targeted interventions to influence the value of the ILS, mainly against the USD.
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Features and highlights

  • Liquidity on the Shekel (freely convertible since 2003 only) tends to fall on Friday afternoon, as local banks close for Shabbat.

Even if ILS is a smaller currency, it behaves like a major one, often moving in tandem with USD, following global economic trends, but with slightly less volatility than USD.

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Expert opinion

  • Since Israel is traditionally an exporting country, the BoI tends to intervene to limit the assessments deemed excessive by the ILS.
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Regulations

There are no particular restrictions regarding the purchase and sale of ILS.

Important Information

PAYMENTS IN ILS TO ISRAEL

The IBAN format is mandatory. Payment instructions must contain:

  • The full name of the beneficiary.

Keep In Mind

PUBLIC HOLIDAYS

Purim 1 Mar
National Independence Day 20 Apr
Rosh Hashana 10 - 11 Sep
Sukkot 24 - 30 Sep
Simchat Tora 2 Oct
Pesach 31 - 7 Apr
Shavuot 20 - 21 May
Yom Kippur 19 Sep
Sh’mini Atzeret 1 Oct
Chanukka 3 - 10 Dec

When a holiday falls on a weekend, the next business day becomes a holiday

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