Shekel exchange rate in 2026: dollar and euro against the shekel, history since 2015 and what moves the rate
A dollar bought more than ₪4 in 2015 and ₪2.81 in May 2026. What the history shows, what moves the shekel, and how to convert without paying bank margins.
The essentials in 40 seconds
On 2 November 2026, 1 dollar was worth ₪3.14 and 1 euro ₪3.52 (ECB reference rate). Over ten years the shekel has strengthened markedly: the dollar went from above ₪4 in 2015 to ₪2.81 on 29 May 2026, its lowest level in about thirty years, and the euro from ₪4.73 to ₪3.27. The rate is driven mainly by Israeli institutional investors' flows, US markets, Bank of Israel rates (3.25% at the end of October 2026) and the security situation. Nobody predicts it reliably; what you can control is the margin charged on conversion, often 1 to 3% at a bank.
Key figures
- USD/ILS on 2 Nov 2026
- 3.14
- EUR/ILS on 2 Nov 2026
- 3.52
- Dollar high since 2015
- 4.08 (Oct 2023)
- Dollar low since 2015
- 2.81 (May 2026)
- Euro low since 2015
- 3.25 (Aug 2022)
- Bank of Israel rate
- 3.25%
The shekel exchange rate today
The converter below shows today's reference rate and its chart over one month, one year or five years. It is the interbank price, with no margin: the right baseline for judging a bank's or a transfer service's offer.
ECB reference rate, no margin. Banks and exchange bureaus add 1–3% on top.
Shekel history since 2015
The two tables give the annual average, low and high of the ECB reference rate, in shekels per unit of foreign currency. The lower the figure, the stronger the shekel.
| Year | Average | Low | High |
|---|---|---|---|
| 2015 | 3.89 | 3.76 | 4.06 |
| 2016 | 3.84 | 3.74 | 3.98 |
| 2017 | 3.60 | 3.47 | 3.87 |
| 2018 | 3.60 | 3.39 | 3.78 |
| 2019 | 3.56 | 3.45 | 3.75 |
| 2020 | 3.44 | 3.21 | 3.86 |
| 2021 | 3.23 | 3.06 | 3.34 |
| 2022 | 3.36 | 3.09 | 3.58 |
| 2023 | 3.69 | 3.37 | 4.08 |
| 2024 | 3.70 | 3.56 | 3.85 |
| 2025 | 3.45 | 3.18 | 3.81 |
| 2026* | 3.04 | 2.81 | 3.18 |
| Year | Average | Low | High |
|---|---|---|---|
| 2015 | 4.31 | 4.10 | 4.73 |
| 2016 | 4.25 | 3.99 | 4.42 |
| 2017 | 4.06 | 3.83 | 4.31 |
| 2018 | 4.24 | 4.11 | 4.42 |
| 2019 | 3.99 | 3.79 | 4.27 |
| 2020 | 3.93 | 3.69 | 4.24 |
| 2021 | 3.82 | 3.47 | 4.01 |
| 2022 | 3.54 | 3.25 | 3.76 |
| 2023 | 3.99 | 3.65 | 4.32 |
| 2024 | 4.01 | 3.75 | 4.21 |
| 2025 | 3.89 | 3.68 | 4.27 |
| 2026* | 3.51 | 3.27 | 3.72 |
Four episodes stand out. In March 2020, Covid panic pushed the dollar to ₪3.86 before a quick retreat. In 2021, the shekel hit record strength: the dollar fell to ₪3.06 in November. After 7 October 2023, the shekel plunged (₪4.08 per dollar in late October) until the Bank of Israel announced large foreign-currency sales. In 2025-2026, it climbed again, to ₪2.81 per dollar in May 2026, then eased in the autumn.
What moves the shekel
- The current account. Israel exports more than it imports, thanks to tech and natural gas. That surplus, in place for over twenty years, is the underlying force pushing the shekel up.
- Institutional investors. Pension funds, keren hishtalmut and insurers put a growing share of their assets abroad, then hedge or reduce their dollar exposure. When they sell dollars, the shekel rises: they sold over $23 billion in the second half of 2025, a record.
- US markets. When Wall Street rises, the value of institutions' foreign assets climbs; to keep the same exposure, they sell dollars. Hence a daily link between US indices and the shekel.
- Bank of Israel rates. An Israeli rate above foreign rates attracts capital and supports the shekel. The Bank of Israel cut its rate to 3.25% in 2026 and held it in late October.
- Bank of Israel interventions. With more than $200 billion in reserves, it can buy foreign currency to slow a shekel rally (its 2021 programme) or sell it to stop a fall (October 2023). It intervenes only in exceptional situations.
- Security and politics. Wars, tension with Iran, elections: the Israeli risk premium rises, the shekel falls, sometimes by several percent in a few days, then recovers as the risk recedes.
These drivers explain past moves; they do not predict the next one. Shekel Guide does not publish exchange-rate forecasts.
Representative, interbank, bank rate: three different rates
| Rate | Who publishes it | What it is used for |
|---|---|---|
| Interbank (market rate) | The markets, continuously; the ECB publishes a reference rate every business day | The "real" price, the one on Google and our converter; the baseline for comparison |
| Representative (sha'ar yatzig) | The Bank of Israel, every business day | Israeli contracts in foreign currency: rent, off-plan purchases, fees |
| Bank (customer rate) | Your bank, your exchange bureau | The rate actually applied, usually with a 1 to 3% margin |
The gap between the interbank rate and the customer rate is the real cost of a conversion. On $10,000, a 2.5% margin is $250, more than the effect of a week of rate movement in most periods.
Converting at the best price
- Compare against today's rate. Ask "how many shekels for $1,000" and compare the answer with the interbank rate shown above.
- Don't let the Israeli bank convert on arrival. Convert beforehand, or hold a foreign-currency account and negotiate the conversion (see the banks guide).
- Small amounts: an online service. For a few hundred or thousand dollars, Wise or Revolut on weekdays charge margins of a few tenths of a percent.
- Large amounts: a broker. Above $10,000 or for a property purchase, a currency broker negotiates the rate and can spread the conversion.
- Spread rather than bet. Converting in several steps reduces the risk of hitting a bad day, without pretending to guess the good one.
The money transfer comparison applies these rules to your amount and shows the shekels received per channel.
What changes in 2027
Three things to watch, without drawing a forecast from them: the path of Bank of Israel rates after the October 2026 election, institutional investors' hedging policy (the regulator does not plan to restrict it in the short term), and the announced arrival of new payment players, Revolut among them, which could push conversion margins down for individuals. The tables on this page are updated every quarter.
Frequently asked questions
What is the shekel exchange rate today?
The converter at the top of the page shows today’s rate, at the European Central Bank reference rate. On 2 November 2026, 1 US dollar was worth ₪3.14 and 1 euro ₪3.52. That is the interbank rate, with no margin: a bank or exchange bureau will give you 1 to 3% less.
Is the shekel a strong currency?
Yes, over time. A dollar bought more than ₪4 in 2015 and ₪2.81 at the end of May 2026, its lowest level in about thirty years; the euro went from ₪4.73 to ₪3.27 over the same period. The current-account surplus, tech exports and foreign-exchange reserves above $200 billion explain the trend.
Why did the shekel rise so much against the dollar in 2026?
Several forces added up: general dollar weakness, rising US markets that push Israeli institutional investors to sell dollars to keep their exposure stable, record foreign-currency sales by those institutions (over $23 billion in the second half of 2025), and a falling Israeli risk premium.
What is the USD/ILS high and low since 2015?
On ECB data since 2015, the dollar peaked at ₪4.08 on 26 October 2023, just after 7 October, and hit its low of ₪2.81 on 29 May 2026. Earlier lows were ₪3.06 in November 2021; the Covid panic of March 2020 pushed it to ₪3.86.
What is the sha’ar yatzig?
The representative rate (sha’ar yatzig) is published every business day by the Bank of Israel. It is the reference for Israeli contracts denominated in foreign currency: dollar rents, off-plan apartment purchases, fees. It is very close to the ECB rate, but for a contract it is the one that counts.
Can the shekel exchange rate be predicted?
No. Economists regularly get the direction and size of moves wrong. What you can do is understand the drivers (Bank of Israel rates, institutional flows, US markets, geopolitics) and reduce risk: spread large transfers, avoid converting in a rush, and avoid bank margins.
When is the best time to convert dollars to shekels?
Nobody knows the right day. For a large amount, spreading the conversion over several weeks or months smooths the risk; for a property purchase, a currency broker can lock in a rate in advance. Either way, the intermediary’s margin often weighs more than a few days of rate movement.
How we work
Every figure on this page is checked against the official source listed at the bottom and dated. When a schedule changes, the page is updated within days of the official publication. Our methodology.
Sources
- European Central Bank — euro reference rates (USD/ILS and EUR/ILS series via Frankfurter, extracted 3 Nov 2026)
- Bank of Israel — representative rates (sha’ar yatzig)
- Globes — institutions’ hedging behind the shekel’s strength (4 May 2026)
- Times of Israel — Bank of Israel keeps its rate at 3.25% (October 2026)
- Globes — shekel nears its strongest level against the dollar in 30 years
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