Israeli new shekel
Worldwide use:
- Israel
Description:
The Shekel is the official currency of Israel. The New Israeli Shekel was introduced in 1985 following massive inflation of the old Israeli Shekel from 1980 to 1985. 1 Shekel is equal to 100 Agorot. The Banknotes are printed in just four denominations of 20, 50, 100 and 200 Shekalim. All the bank notes are of the same size but have different color patterns so that they can be differentiated. Coins are issued in 5, 10 and 50 Agarot, 1 Shekel, and 2, 5 and 10 Shekelims.
Israel's currency law was changed in 1969 to make the Israeli Shekel its national currency. In 1980 the law came into force and the Shekel was declared the national currency of Israel.
Origin:
The name "Shekel" derives from an ancient unit of weight dating back to 3000 BC. It is believed it may have been linked to a weight of barley, a Shekel being about 180 grains, 11-12 grams or 3.5 troy ounces.
Component units:
- agora (100)
Date introduced:
- 1985
Central bank:
- Bank of Israel
Printer:
- Orell Füssli Security Printing of Zürich, Switzerland
Mint:
- Korea Minting and Security Printing Corporation (KOMSCO).