Are you curious about the new shekel currency? In this article, we’ll explore everything you need to know about this fascinating form of legal tender. So, let’s dive right in!
Introduction: Unveiling the New Shekel
The new shekel (שקל חדש) is the official currency of Israel. It is also recognized as legal tender in the Palestinian territories of the West Bank and the Gaza Strip.
The currency code for the new shekel is ILS, and its symbol is ₪. Since its introduction on January 1, 1986, the new shekel has become an integral part of Israel’s economic landscape.
Denominations: Banknotes and Coins
The new shekel is divided into 100 units known as agorot. Here’s an overview of the denominations:
New Shekel Banknotes
- ₪20
- ₪50
- ₪100
- ₪200
New Shekel Coins
- 10 agorot
- ₪0.5
- ₪1
- ₪2
- ₪5
- ₪10
Exchange Rates: New Shekel to Major Currencies
If you’re interested in converting new shekels to other currencies, here are some common exchange rates:
- Israeli new shekel to USD (United States Dollar) 1 Shekel = 0,26 $
- New shekel to Euro (EUR) 1 Shekel = 0,25 €
- Israeli new shekel to british pound 1 Shekel = 0,21 GBP
Please note that exchange rates may vary and are subject to market fluctuations.
A Brief History: From Hyperinflation to Stability
The new shekel emerged as a solution to combat hyperinflation and stabilize Israel’s economy.
On September 4, 1985, it replaced the old shekel at a ratio of 1000:1. This transition marked a significant milestone in Israel’s financial history and laid the foundation for a more robust and resilient monetary system.
Conclusion: Embracing the New Shekel
In conclusion, the new shekel is a vital component of Israel’s financial ecosystem. Its stability and wide acceptance make it an essential currency for both domestic and international transactions. Whether you’re planning a trip to Israel or simply want to expand your knowledge of global currencies, understanding the new shekel is a valuable asset.
That wraps up our informative guide on the new shekel currency. We hope you found this article engaging and insightful. If you have any further questions or topics you’d like us to cover, feel free to reach out.
Thank you for reading, and until next time!
