Israel Currency Discussion Board

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Check this out Israeli new sheqel
Israeli new sheqel
שקל חדש (Hebrew)
1 sheqel coin

ISO 4217 Code ILS
User(s) Israel, Palestinian Authority
Inflation 1.3%
Source The World Factbook, 2005
Subunit
1/100 agora
Symbol ₪
Plural sheqalim or shekalim
agora agorot
Coins 5, 10, 50 agorot, 1, 5, 10 sheqalim
Banknotes 20, 50, 100, 200 sheqalim
Central bank Bank of Israel
Website www.bankisrael.gov.il
The Israeli new sheqel or New Israeli sheqel - שקל חדש(abbr. NIS; symbol: ₪; also spelled shekel; pl. sheqalim or shekalim - שקלים) is the currency of Israel. It replaced the Israeli sheqel in 1985 at a rate of 1000 Israeli sheqels per 1 New Israeli sheqel. The ISO 4217 code for the NIS is ILS. The NIS is divided into 100 agorot (sing. agora).

In Hebrew, the NIS is called "שקל חדש" (Sheqel Khadash), and is usually abbreviated ש"ח (pronounced shaḥ). The symbol for the NIS is ₪, a combination of the first Hebrew letters of the words sheqel (ש) and khadash (ח).

Since January 1, 2003, the NIS has been a freely convertible currency.


Coins
Coins exist of:

5 agorot
10 agorot
50 agorot (½ new sheqel)
1 new sheqel
2 new sheqalim
5 new sheqalim
10 new sheqalim
The 1 agora coin (issued in 1985) was abolished in 1991. In late 2004, the Bank of Israel announced a plan to issue a 2 NIS coin which was realised in August 2006. [1]


Banknotes
Denominations exist of 20, 50, 100, and 200 NIS. Originally there were also banknotes of 1, 5, and 10 NIS. These were replaced by coins in subsequent years. A plan to issue a 500 NIS banknote, carrying the portrait of Yitzhak Rabin, was announced shortly after Rabin's assassination in 1995. However, due to low inflation rates, there is currently no need for such a banknote, and it is not expected to be issued in the foreseeable future.