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Currency
Some years ago restrictions on currency conversion were lifted and at last it was possible to pay or receive payment for property in any currency.
However the Sheqel remained volatile so prices of property in Israel continued to be quoted in $US. Now with the stability of the Sheqel many sellers are now quoting Sheqel prices.
Those sellers still quoting $US sometimes expect $US however some expect to be paid in Sheqels. When calculating the amount of Sheqels to be paid it is accepted practice to use the Bank of Israel Exchange Rate (Shar Hayesig) which is a middle rate and is published on a daily basis whenever there is trading in the international currency markets. This rate is published in the daily papers and announced in the major news broadcasts and is available (in Hebrew) from the Bank of Israel on tel. 1212332999 or via the internet at http://www.bankisrael.gov.il/eng.shearim/index.php in English
Take into account currency exchange costs, bank commission (about 0.125%) and the difference between the rate received when selling foreign currency and the Shar Hayesig (approximately 1.0%). Please note that bank rates can be substantially reduced when changing very large sums, this being subject to negotiation with your bank manager. Often your lawyer can advise you or can represent you in these negotiations (probably having negotiated rates for previous clients).