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Foreign Exchange

Today, the transfer of foreign currency in and out of the country is almost unrestricted. However, the Bank of Israel has stipulated reporting and control requirements on foreign currency movements.

Transfer of currency overseas, not covered by the appropriate records, is also subject to a withholding tax rate of 25%.

The Bank of Israel publishes daily representative foreign exchange rates, based on the results of daily trading by the major commercial banks and the bank of Israel, as well as on European money market spot exchange rates.

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