ZAR/ILS: what to know
The ZAR/ILS rate shows how much ILS you get for 1 ZAR. Right now, 1 ZAR buys 0.1878 ILS at the mid-market rate. In the other direction, 1 ILS is worth 5.3242 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while ILS responds to the tech sector and geopolitics.
The South African Rand (ZAR) is issued by South African Reserve Bank. The rand is named after the Witwatersrand ridge, where gold was discovered. 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.
Over the past 12 months the ZAR/ILS rate has ranged between 0.1730 and 0.1972 — a change of -2.58% 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.