EURILS denotes the exchange rate between the Euro and the Israeli new shekel, indicating how many ILS are required to purchase one EUR. It tracks the relative value of the euro when priced in Israeli currency and is quoted in the foreign exchange market.
The euro is the single currency used by the Eurozone, comprising multiple European Union member states, and serves as one of the world’s major reserve currencies. Monetary policy and issuance of banknotes and coins for the euro area are managed by the European Central Bank.
The Israeli new shekel is the official currency of the State of Israel and is also used in certain Palestinian territories. The Bank of Israel is responsible for issuing the shekel, conducting domestic monetary policy, and maintaining price stability within the Israeli economy.
Movements in EURILS are driven by supply and demand in global forex markets and respond to interest rate differentials, inflation trends, central bank actions, trade flows, and geopolitical developments. Market sentiment, capital movements and occasional interventions by either central bank can also influence short- and medium-term pricing.
EURILS is relevant to traders, exporters, importers and investors with exposure to European or Israeli markets, who use the pair for hedging currency risk, executing speculative strategies, or pricing cross-border transactions.