USD/ILS explained

• USD
• ILS

What USDILS is

USDILS is the US dollar priced in Israeli shekels (ILS, the new Israeli shekel). The US dollar is the base currency and the shekel is the quote currency. The price shows how many shekels one US dollar costs.

• When the price rises, the dollar is getting stronger against the shekel.
• When the price falls, the shekel is getting stronger against the dollar.

Like other quotes, USD/ILS has two prices. The bid is the price you can sell at, and the ask is the price you can buy at. The gap between them is the spread, which is your cost of entry. USDILS counts as an exotic pair: one major currency against the currency of a smaller market. See Majors, minors, exotics for how these groups differ.

Pip size and pip value

A pip is the standard price step used to measure moves in a pair. The pip size and the contract size (how many units of the base currency one lot holds) are set in the symbol's contract specification. Open the specification in your platform before you trade. Do not assume the pip size is the same as on a major pair.

Pip value per lot works like this:

• Pip value in ILS = pip size × contract size × number of lots.
• To get the value in a USD account, divide the ILS amount by the current USDILS price.

Because the shekel is the quote currency, pip value in dollars changes slightly as the price moves. The calculator does the conversion for you:

Margin for a USDILS position

Margin is the amount your broker sets aside to keep a leveraged position open. Because the dollar is the base currency, the margin for a USD account is simple:

• Margin = lots × contract size ÷ leverage.

Higher leverage means less margin, but losses build just as fast on the full position size. Leveraged forex and CFD trading can lose you money quickly, including more than you planned for a single trade.

What moves the US dollar side

• Fed policy. Interest-rate decisions by the US Federal Reserve and the "dot plot" (each policymaker's rate projection) change expectations for US rates.
• US data. Non-farm payrolls (NFP, the monthly jobs report) and CPI (consumer inflation) often cause sharp moves at release time.
• Treasury yields. Rising US government bond yields tend to support the dollar. Falling yields tend to weigh on it.
• Global risk appetite. In stressed markets, money often moves into the dollar. When markets are calm, that flow can reverse.

For background on reading these releases, see Fundamental analysis.

What moves the Israeli shekel side

• Bank of Israel policy. Rate decisions and statements matter. The central bank has also bought foreign currency in the past to limit shekel strength, so the possibility of intervention is part of the picture.
• Tech-sector flows. Israeli technology companies earn much of their revenue in dollars and sell dollars to pay costs in shekels. Foreign investment into Israeli tech, and large company deals, can move the shekel. So can the hedging activity of Israeli institutional investors who hold foreign assets. The pair often reacts to moves in US tech stocks for this reason.
• Geopolitics. Security events in the region can weaken the shekel quickly and widen spreads. These moves can happen at any hour, including over a weekend.

Liquidity, sessions and spreads

Shekel liquidity is highest when Israeli banks and the European and US markets are open together. In the late US session and Asian hours, fewer banks quote the pair, so spreads usually widen. Israeli public holidays and the local working-week calendar can also thin the market on days when other markets are open.

Common features of exotic pairs like USDILS:

• Wider spreads than majors, and spreads that can jump around news and at the daily rollover.
• Higher swaps. A swap is the overnight financing charge or credit for holding a position. It reflects the rate gap between the two currencies. See Swap fees.
• Weekend gap risk. If news breaks while markets are closed, the price can open far from Friday's close. A stop-loss may then fill at a worse price.

USDILS at Exness: what to verify

We have no sourced confirmation that USDILS is listed at Exness, or under which symbol name. Search for the symbol in your trading platform, for example MetaTrader 5. Then check the contract specification for spread, swap, pip size, contract size and trading hours.

General Exness conditions apply to forex on supported accounts, but check whether each one covers this pair:

• The minimum trade size is 0.01 lot.
• Higher margin requirements (HMR) can apply to forex at 1:200 (0.5%) for orders opened from 15 minutes before to 90 seconds after high-impact news.
• Margin call and stop-out levels by account are: Standard Cent: margin call 60%, stop out 0%; Standard: margin call 60%, stop out 0%; Pro: margin call 30%, stop out 0%; Raw Spread: margin call 30%, stop out 0%; Zero: margin call 30%, stop out 0%. Note that 0% stop out not supported in some countries; may vary.
• Clients registered from Pakistan are on the list where swap-free status is assigned automatically. Check the swap shown for this symbol in your account.

Compare accounts on Account types.

Legal note for Pakistan residents

On offshore products, per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947. Also, per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse. Read Law and regulators before you open any offshore account.

Frequent questions

What does the USD/ILS price mean?

It is the number of Israeli shekels needed to buy one US dollar. A higher price means a stronger dollar against the shekel.

Is USDILS available at Exness?

We could not confirm this from sourced facts. Search for the symbol in your platform and read its specification. Check the current list in the Exness personal area or on the official site.

Why is the USDILS spread wider than on EUR/USD?

The pair has fewer active market makers, especially outside Israeli and European hours. Spreads also widen around news and geopolitical events.

How do I work out pip value in a USD account?

Multiply pip size by contract size and lots to get the value in ILS. Then divide by the USDILS price, or use the pip calculator above.

What moves dollar vs shekel the most?

On the dollar side, Fed decisions, NFP, CPI and Treasury yields. On the shekel side, Bank of Israel policy, tech-sector flows and regional geopolitics.

Can USDILS gap over the weekend?

Yes. If news breaks while the market is closed, Monday's opening price can differ sharply from Friday's close. Read Risk management for ways to limit exposure.