About the Israeli New Shekel
The New Shekel was introduced in 1986, replacing the hyperinflated old shekel at a rate of 1000:1 as part of an economic stabilization plan.
The name 'Shekel' refers to an ancient unit of weight and currency from the Biblical era.
Interesting Facts
An Ancient Name
The Shekel's name harks back to an ancient Biblical currency, connecting the modern state of Israel with its historical roots.
A 'Startup Nation' Currency
The strength of the Shekel is closely linked to Israel's booming high-tech industry, often referred to as 'Silicon Wadi'.
Poets on Banknotes
The current series of banknotes features portraits of prominent Hebrew poets, such as Rachel Bluwstein and Leah Goldberg.
Historical Timeline
The Israeli Pound (or Lira) is established.
The Shekel replaces the Pound.
The New Shekel (ILS) replaces the old shekel to curb hyperinflation.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- ILS
- Symbol
- ₪
- Numeric Code
- 376
- Subunit
- Agora (1/100)
- Introduced
- 1986-01-01
Central Bank
- Name
- Bank of Israel
- Headquarters
- Jerusalem
- Founded
- 1954
- Current Governor
- Amir Yaron (since 2018)
Economic Data
- Reserve Currency Share
- 0.2%
- Forex Volume Share
- 0.7%
- Inflation Rate
- 2.8%
- Interest Rate
- 4.50%
Exchange Rates
Used In
What Affects the ILS Exchange Rate?
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