Since January 1, 2003, the sheqel has been a freely convertible currency. Since May 7, 2006, sheqel derivative trading has also been available on the Chicago Mercantile Exchange.This makes the sheqel one of only twenty or so world currencies for which there are widely-available currency futures contracts in the foreign exchange market. It is also a currency that can be exchanged by consumers in many parts of the world.

On May 26, 2008, CLS Bank International (CLS Bank) has announced that it will settle payment instructions in Israeli New sheqel, thus making this currency fully convertible.

The currency is not produced in Israel, as the country has no mint. Currently, the coins are minted at Korea Minting and Security Printing Corporation (KOMSCO), the banknote and coin producer of South Korea, while the banknotes are produced in Switzerland.

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