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It was replaced by the Israeli new shekel at a ratio of 1,000:1 on 1 January 1986. The old shekel was short-lived due to its hyperinflation. The old shekel was subdivided into 100 new agorot (אגורות חדשות). The shekel sign was although it was more commonly denominated as S or IS. As of December 2024 this symbol does not exist in Unicode.
The word shekel is based on the triliteral Proto-Semitic root ṯql, cognate to the Akkadian šiqlu or siqlu, a unit of weight equivalent to the Sumerian gin2. [1] Use of the word was first attested in c. 2150 BC under the reign of Naram-Sin of Akkad, and later in c. 1700 BC in the Code of Hammurabi.
In the Israelite system, the ratio of the giru to the shekel was altered, and the talent, mina, and giru, later went by the names kikkar (ככר), litra, and gerah (גרה), respectively; litra being the Greek form of the Latin libra, meaning pound. [9] [40] The Israelite system was thus as follows: 1 shekel = 20 gerah; 1 litra = 60 shekels; 1 ...
The new shekel has been in use since 1 January 1986, when it replaced the hyperinflated old shekel at a ratio of 1000:1. The currency sign for the new shekel ₪ is a combination of the first Hebrew letters of the words shekel (ש ) and ẖadash (ח ) (new). When the shekel sign is unavailable the abbreviation NIS (ש״ח and ش.ج) is used.
In Terence's play Heauton Timorumenos, adapted from a play of the same name by the Greek playwright Menander, a certain sum of money is referred to in one place as "ten minae" (line 724) and in another as "1000 drachmas of silver" (line 601). [18] Usually the word mina referred to a mina of silver, but Plautus also twice mentions a mina of gold ...
The new subdivision of the shekel was named agora ẖadaša ("new agora"). There were 100 new agorot in 1 shekel. The high rate of inflation in Israel in the early 1980s forced the Israeli government to change the Israeli currency once again in 1985. The new shekel was introduced at a rate of 1000 S per 1 NS. The name agora was used once again ...
The law allowed the minister to decide on the date for the change. The law came into effect in February 1980, when the Israeli government introduced the 'Israeli shekel' (now called old Israeli shekel), at a rate of IL 10 = IS 1. On 1 January 1986, the old shekel was replaced by the Israeli new shekel at a ratio of IS 1,000 : ₪1.
In later centuries, the half-shekel was adopted as the amount of the Temple tax, although in Nehemiah 10:32–34 the tax is given as a third of a shekel. [2] This is what each one who is registered shall give: half a shekel according to the shekel of the sanctuary (the shekel is twenty gerahs), half a shekel as an offering to the Lord.