Israeli Shekel will be fully convertible in international currency markets

The announcement by CLS is a symbolic act that gives an international stamp of approval to the Israeli currency
 
Following approval by CLS  [Continuous Linked Settlement] Bank International in New York the shekel will become fully convertible in international currency markets and will be traded by major commercial banks along with 16 other world currencies. Followingthe announcement in New York, Bank of Israel Governor Stanley Fischer said that "The inclusion of the Israeli shekel as a settlement currency in CLS is a significant step in Israel's increasing integration into the global economy".
 
Several countries and companies already honor the shekel, but the announcement by CLS is a symbolic act that gives an international stamp of approval to the Israeli currency, and recognizes it as one of the strongest currencies in the world.
 
CLS bank settles an average daily volume of more than 500,000 instructions with a gross value of $4 trillion. CLS Bank currently provides settlement service to over 2,500 participants. Of these, 61 are CLS Bank Members, including two new Israeli members,Bank Hapoalim and Bank Leumi.