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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.
Shekel came into the English language via the Hebrew Bible, where it is first used in Genesis 23. The term "shekel" has been used for a unit of weight, around 9.6 or 9.8 grams (0.31 or 0.32 ozt), used in Bronze Age Europe for balance weights and fragments of bronze that may have served as money. [2]
Because lira (Hebrew: לִירָה) was a loanword from Latin, a debate emerged in the 1960s over the name of the Israeli currency due to its non-Hebrew origins. This resulted in a law ordering the Minister of Finance to change the name from lira to the Hebrew name shekel (Hebrew: שקל). The law allowed the minister to decide on the date for ...
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 ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
The old Israeli shekel, , in circulation between 1980 and 1985, had a different symbol, which was officially announced on 18 March 1980. [3] Before the introduction of the old shekel in 1980, there was no special symbol for the Israeli currency. It was a stylized Shin shaped like a cradle (i.e. rounded and opening upward).
Present currency ISO 4217 code Country or dependency ... USD East Timor: US$ [23] ... Israeli new shekel [34] ILS
It is pegged to the US dollar. The Central Bank of Jordan commenced operations in 1964 and became the sole issuer of Jordanian currency, in place of the Jordan Currency Board. The Jordanian dinar is also widely used in the West Bank alongside the Israeli shekel. [2] [3]