Israel Currency Guide: Explore with the Israeli new sheqel
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Israel with the Israeli new sheqel
What's in this Israel currency guide?
What currency is used in Israel?
The official currency of Israel (country code: IL) is the Israeli new sheqel, with symbol ₪ and currency code ILS.
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Frequently Asked Questions
What currency should I use in Israel?
The domestic currency in Israel is the Israeli new sheqel.
What is the Israeli new sheqel currency code and symbol?
The three letter currency code for the Israeli new sheqel is ILS — symbol is ₪.
What doe the Israeli new sheqel look like?
Here is an example Israeli new sheqel banknote:
Which countries use the Israeli new sheqel?
It is the domestic currency in Israel.
Is the Israeli new sheqel a closed currency?
No, the Israeli new sheqel is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and ILS?
Here are some popular conversion amounts for USD to ILS (US dollar to Israeli new sheqel)*.
*Converted at the current USDILS interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the Israeli new sheqel
The addition of ‘new’ in the official name of Israel’s currency creates a distinction between the current shekel and the original (or ‘old’) shekel used between 1980 and 1985. The original shekel had been ravaged by hyperinflation and was replaced in 1986 by the ‘new’ shekel at a rate of 1000-to-1.
A single shekel is subdivided into 100 agora.
Historically, the shekel’s valuation has been at the mercy of Middle East politics. The shekel has been labelled by some a “conflict currency.”
Fortunately, hedging shekel FX risk has been made easier over the past decade by the introduction of exchange traded shekel derivatives. USD/ILS futures trade on both the ICE and CME exchanges. Exchange traded options are available with the CME. The shekel is currently one of only twenty or so currencies for which exchange traded derivatives are available.
Since 2000, the shekel’s lowest valuation against the US dollar occurred in June 2002 when the USD/ILS exchange rate reached 5.005. The currency’s post-2000 high came in July 2008, shortly before the worst stage of the 2007-2009 financial crisis, when USD/ILS fell to just 3.206.
In 2016, the shekel was the twenty-ninth most traded currency in the world and since 2008 it has been fully convertible.
Travel money for Israel
Using Wise for Israeli new sheqel travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Israeli new sheqel otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Israeli new sheqel cash before departure, you can save money by ordering online. You generally get better rates and can pick up the ILS cash locally or even on travel day at the airport.
Practical Travel Guide to Israel
Israel offers a rich cultural, historical, and spiritual experience, making it a unique destination for travelers. Here’s a concise guide to help you navigate your visit effectively.
- Entry Requirements: Visitors from many countries, including the US, EU, and Canada, can enter Israel visa-free for up to 90 days. Your passport must be valid for at least six months beyond your travel dates. Be prepared for detailed security checks at airports.
- Currency and Money: The Israeli New Shekel (ILS) is the official currency. Credit cards are widely accepted, and ATMs are readily available in cities and towns. Cash is useful for smaller vendors, markets, and public transportation in some areas. Tipping is customary, especially in restaurants (10-15%).
- Transportation: Israel has an extensive and reliable bus network connecting cities and towns. Trains are a comfortable option for routes like Tel Aviv to Jerusalem or Haifa. Taxis and ride-sharing apps like Gett are widely used. Renting a car is ideal for exploring remote areas but be mindful of parking challenges in cities.
- Accommodation: Options range from luxury hotels to hostels and guesthouses. Kibbutz stays offer a unique cultural experience. Book in advance for holidays like Passover, Sukkot, and Christmas, when demand spikes.
- Food and Dining: Israeli cuisine is diverse, with influences from the Middle East, Mediterranean, and beyond. Must-try dishes include falafel, hummus, shakshuka, and fresh seafood. Kosher dietary laws are observed at many establishments, so inquire if you have specific preferences.
- Cultural Tips: Dress modestly when visiting religious sites such as the Western Wall or mosques. Be respectful of local customs and observances, particularly during the Sabbath (Friday evening to Saturday evening), when many businesses are closed.
- Top Attractions: Jerusalem offers iconic sites like the Old City, the Dome of the Rock, and the Church of the Holy Sepulchre. Tel Aviv is a hub for nightlife, beaches, and modern art. The Dead Sea, Masada, and the Sea of Galilee provide unique natural and historical experiences.
- Festivals and Events: Major Jewish holidays like Rosh Hashanah, Yom Kippur, and Hanukkah are observed nationwide and can impact travel plans. Secular events like Tel Aviv Pride and the Eilat Red Sea Jazz Festival attract global visitors.
- Packing Essentials: Bring lightweight clothing for summer and a jacket for cooler months. Comfortable walking shoes are essential for exploring historic sites. Sunscreen and a hat are necessary for protection from the strong Mediterranean sun.
- Safety and Health: Israel is generally safe for travelers, but it’s important to stay informed about regional developments. Dial 100 for police, 101 for medical emergencies, and 102 for fire. Carry comprehensive travel insurance for medical and travel-related emergencies.
- Practical Apps: Download Moovit for public transportation routes, Google Maps for navigation, and Gett for ride-sharing. Apps like iSraelPal provide detailed guides to popular attractions and cultural insights.
- Shopping Tips: Popular souvenirs include Dead Sea products, olive wood carvings, Judaica items, and local wines. Markets like Mahane Yehuda in Jerusalem or Carmel Market in Tel Aviv offer authentic shopping experiences.
With its vibrant culture, historical significance, and breathtaking landscapes, Israel provides an unforgettable travel experience. Proper preparation and cultural awareness will ensure a smooth and enriching trip. Safe travels!
Israel: Events in 2025
Israel's 2025 calendar is rich with cultural, religious, and national events that offer unique experiences for visitors and residents alike. Here's an overview of key dates and observances:
Major Jewish Holidays:
- Purim: Celebrated on March 14, Purim commemorates the deliverance of the Jewish people in ancient Persia. Festivities include costume parties, feasting, and reading the Book of Esther.
- Passover (Pesach): From April 13 to April 19, this seven-day festival marks the Israelites' exodus from Egypt. Traditions involve the Seder meal and abstaining from leavened products.
- Yom HaShoah (Holocaust Remembrance Day): Observed on April 24, this solemn day honors the memory of Holocaust victims with ceremonies and moments of silence.
- Yom HaZikaron (Memorial Day): Falling on April 30, it's a day of remembrance for Israel's fallen soldiers and victims of terrorism, marked by nationwide sirens and memorial services.
- Yom HaAtzma'ut (Independence Day): Celebrated on May 1, this day marks Israel's declaration of independence in 1948, featuring fireworks, concerts, and public festivities.
- Shavuot: On June 2, Shavuot commemorates the giving of the Torah at Mount Sinai, celebrated with dairy meals and all-night study sessions.
- Rosh Hashanah (Jewish New Year): Observed on September 23-24, it marks the beginning of the Jewish High Holy Days, characterized by prayer and reflection.
- Yom Kippur (Day of Atonement): On October 2, it's the holiest day in Judaism, dedicated to fasting, prayer, and repentance.
- Sukkot: From October 7 to October 13, this festival involves dwelling in temporary structures (sukkahs) to commemorate the Israelites' desert wanderings.
- Simchat Torah: Celebrated on October 14, it marks the conclusion and restart of the annual Torah reading cycle, featuring joyous dancing and singing.
National and Cultural Events:
- Jerusalem International Book Fair: Typically held in May, this biennial event attracts authors and publishers worldwide, offering book launches, discussions, and cultural activities.
- Tel Aviv Pride Parade: Usually in June, it's one of the largest LGBTQ+ events in the region, featuring a vibrant parade and week-long festivities.
- Jerusalem Film Festival: Held in July, this festival showcases international and Israeli films, including premieres, workshops, and discussions.
- Eilat Red Sea Jazz Festival: Typically in August, this event features performances by international jazz artists in the resort city of Eilat.
Business and Trade Events:
- Cybertech Tel Aviv: Scheduled for January, it's one of the largest cyber technology conventions globally, bringing together industry leaders, startups, and investors.
- Agritech Israel: Usually in May, this international agricultural technology exhibition showcases innovations in agri-tech and food production.
- Israeli Medical Association Conference: Typically in November, it gathers healthcare professionals to discuss advancements in medical research and practice.
Note: Dates for cultural and business events may vary annually. It's advisable to verify specific event dates closer to 2025 to ensure accurate planning.
USD/ILS Market Data
The below interactive chart displays the USD/ILS change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Israel - Best Rates
To get a good (and fair) exchange rate when sending money to Israel you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Israel
When sending money to Israel it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Israeli new sheqel amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted ILS amount will be transfered to the recipient account you specify in Israel.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Israeli new sheqel deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Israel
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Israeli new sheqel currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the ILS exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Israeli new sheqel bank account: A local ILS bank account can make it easier for you to manage your finances and pay bills while you are in Israel. It may also be more convenient to use a local ILS bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Israel. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Israel. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Israel, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Israel.
How is the cost of living in Israel?
The cost of living in Israel is relatively high. The average monthly salary is around 4,000 NIS (approximately $1,145). The price of basic necessities such as food, transportation, and housing are all relatively expensive.
How is the expat life in Israel?
There is no one answer to this question as the expat life in Israel can be quite different depending on a person's situation. Some expats may find the transition to life in Israel to be quite easy, while others may find it to be more challenging. There are a number of different factors that can influence a person's experience, such as their reason for moving to Israel, their personal and professional networks, and their ability to speak Hebrew.
Any laws in Israel that foreigners should be aware of?
There are a few things that foreigners should be aware of when travelling to Israel. Firstly, it is important to note that Israel is a kosher country, which means that all food served must comply with Jewish dietary laws. This means that pork and shellfish are not available, and beef and chicken must be prepared according to kosher guidelines. Secondly, alcohol is only served in licensed establishments, and it is illegal to drink in public. Finally, drugs are illegal in Israel, and possession of even small amounts can result in a prison sentence.
What is doing business like in Israel?
Doing business in Israel is mostly positive. The overall atmosphere is very supportive of businesses, and the government offers many incentives for businesses to start up and grow. The biggest challenge is the language barrier, as Hebrew is the predominant language spoken in Israel.
How is the economy in Israel?
The economy in Israel is growing at a healthy rate, with a strong focus on hi-tech and innovative industries.
