The Israeli New Shekel (Hebrew: שֶׁקֶל חָדָשׁ Sheqel Ḥadash) (sign: ₪; acronym: ש״ח and in English NIS; code: ILS) (officially spelt sheqel; pl. sheqalim pronounced shqalim – שקלים; Arabic: شيكل جديد or شيقل جديد šēqel ǧadīd) is the currency of the State of Israel. The shekel consists of 100 agorot (אגורות) (sing. agora, אגורה). Denominations made in this currency are marked with the shekel sign, ₪.
The Israeli lira, followed by the old shekel...
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The Israeli New Shekel (Hebrew: שֶׁקֶל חָדָשׁ Sheqel Ḥadash) (sign: ₪; acronym: ש״ח and in English NIS; code: ILS) (officially spelt sheqel; pl. sheqalim pronounced shqalim – שקלים; Arabic: شيكل جديد or شيقل جديد šēqel ǧadīd) is the currency of the State of Israel. The shekel consists of 100 agorot (אגורות) (sing. agora, אגורה). Denominations made in this currency are marked with the shekel sign, ₪.
The Israeli lira, followed by the old shekel, both experienced frequent devaluations against the US dollar and other foreign currencies starting in the early 1960s and accelerating from the mid-1970s onwards. This trend culminated in the old shekel suffering from hyperinflation in the early 1980s. After inflation was contained as a result of the 1985 Economic Stabilization Plan, the new shekel was introduced, replacing the old shekel on January 1, 1986, at a rate of 1,000 old shekalim = 1 new shekel.
Since the economic crisis of the 1980s and introduction of the New Shekel, the Bank of...
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