Convert Israeli New Shekel (ILS) to USD, EUR, GBP, and JPY using indicative 2025 mid-market rates. For planning and illustration purposes. Always check live rates before transacting.
Enter an amount in Israeli New Shekel (ILS) to see the equivalent in USD, EUR, GBP, and JPY using indicative 2025 mid-market rates. These rates are for illustration only.
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About the Israeli New Shekel and its exchange rate
The Israeli New Shekel (ILS or NIS) has been one of the more stable emerging-market currencies over the past two decades, largely due to Israel strong current account surplus driven by technology exports and a prudent monetary policy from the Bank of Israel. The shekel appreciated substantially against the US dollar from 2002 to 2022 before some volatility in 2023 related to judicial reform protests and regional security concerns. In 2025, the rate has generally traded in the range of 3.6 to 3.9 ILS per USD. The Bank of Israel sets interest rates and occasionally intervenes in currency markets to prevent excessive appreciation that could harm exporters.
How Israeli residents use foreign currency legally
Israeli residents may freely hold foreign currency accounts at Israeli banks. There are no capital controls preventing residents from holding or transferring funds abroad, though large international transfers may require anti-money-laundering declarations. Israeli employers often pay technology workers partly in USD or offer USD-denominated bonuses, particularly in the startup sector. Rental of property to foreign nationals is sometimes denominated in USD. For tax purposes, all foreign currency amounts must be converted to ILS at the Bank of Israel representative rate for the relevant date when computing taxable income or capital gains.
Rate disclaimer and where to get live rates
The rates used in this calculator are indicative mid-market approximations based on conditions in 2025. They do not reflect the buy or sell rates that banks and money changers apply, which include a spread that can range from 0.5 to 3 percent above the mid-market rate depending on the institution and amount. For large transfers, specialist foreign exchange providers such as Wise, OFX, or Israeli-licensed money changers often offer tighter spreads than retail banks. For authoritative rates used in Israeli tax filings, the Bank of Israel publishes daily representative rates at boi.org.il.
Frequently asked questions
What is the approximate exchange rate for Israeli shekel to US dollar in 2025?
In 2025, the approximate mid-market exchange rate has ranged around 0.267 USD per ILS, meaning 1 ILS buys approximately 0.267 USD, or 1 USD buys approximately 3.75 ILS. These rates fluctuate daily based on global economic conditions, Israeli monetary policy set by the Bank of Israel, and geopolitical factors. For any financial transaction, always use the live rate from the Bank of Israel (boi.org.il), your bank, or a licensed money changer. The rates in this calculator are indicative only and intended for planning purposes.
Where can I find the official Bank of Israel exchange rates?
The Bank of Israel publishes official representative exchange rates daily on its website at boi.org.il. These rates are used for accounting, tax reporting, and regulatory purposes in Israel. For income or expenses denominated in foreign currency, Israeli tax law typically requires conversion at the Bank of Israel representative rate on the date of the transaction, or the average rate for the tax year in certain cases. Banks and licensed money changers apply their own buy/sell spreads around this rate, so actual transaction rates will differ.
Are there taxes on foreign currency transactions in Israel?
Currency exchange itself is not directly taxed in Israel, but gains arising from holding foreign currency as an investment can be taxable. If you hold USD or EUR in a bank account and the shekel value of that holding increases due to exchange rate movements, the gain may be treated as taxable income. For Israeli residents converting salary or business income from foreign currency, the taxable ILS amount is determined by the Bank of Israel rate on the date received. Currency-related gains inside investment portfolios are subject to capital gains tax at 25 percent on real gains.
How does the ILS exchange rate affect Israeli taxes on foreign income?
When Israeli residents report foreign income after the 10-year exemption period ends, all foreign amounts must be converted to ILS at the Bank of Israel representative rate. A weaker shekel means higher ILS-equivalent income for the same foreign currency amount, which can push income into higher tax brackets. Conversely, a stronger shekel reduces the ILS value of foreign income. For new immigrants still within the 10-year exempt period, this does not affect Israeli taxes directly, but it does affect the real purchasing power of foreign assets held abroad.