ILS/ZAR: what to know
The ILS/ZAR rate shows how much ZAR you get for 1 ILS. Right now, 1 ILS buys 5.3242 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.1878 ILS.
In the short term ILS is driven mainly by the tech sector and geopolitics, while ZAR responds to commodity prices and risk appetite.
The Israeli Shekel (ILS) is issued by Bank of Israel. “Shekel” is one of the oldest names for a unit of money — mentioned in the Bible. The South African Rand (ZAR) is issued by South African Reserve Bank. The rand is named after the Witwatersrand ridge, where gold was discovered.
Over the past 12 months the ILS/ZAR rate has ranged between 5.0713 and 5.7803 — a change of +2.65% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.