Currency Rates for Israeli New Shekel
Bank Exchange Rates for Israel - ILS - Israeli New Shekel - ₪. The foreign exchange rates for Israel also known as the ISO code ILS or the Israeli New Shekel currency and as a symbol ₪.
Coins in circulation are available in denominations of 10 agorot, ½, 1, 2, 5 and 10 Shekel, whilst banknotes are available in denominations of 20, 50, 100 and 200 Shekel. Send Money Transfer to Israel.
The Israeli New Shekel is currently the official currency of Israel. This currency was introduced and became their official legal tender on 1 January 1986. It is now the country official means of exchange and payment. The new shekel is also commonly known as the Shekel in Israel. It replaced the old Shekel that has been in use since 1980 to 1985. The introduction of this currency became necessary to combat and manage the hyperinflation associated with the old shekel. The new Shekel replaced the old shekel in the ratio of 1000 old shekel is to 1 new shekel. The name is derived and taken from the biblical word shekel an ancient unit of weight. The old shekel that was in use from 1980 to 1985 was introduced to replace the Israeli pound which had been in use earlier from 1952 till February 1980.
This currency is only issued by the Israeli Central Bank as the countries means of exchange. This currency is in use in Israel and the Palestinian territories. This New shekel has been more stable than all the other Israeli currencies before it since its introduction by the Central Bank of Israel because since its introduction the country has adopted a close monitoring of the economy maintaining good fiscal and monetary policy to make this currency strong and stable. The New Shekel notes are being printed in Switzerland while the coins are being minted in South Korea.
COINS AND NOTES
The currency is available in both coins and currency notes. One shekel is made of 100 agora units. The coins are in the following denominations and subunits 1/2, 1, 2, 5, and 10 Agoras while the currency notes are in denominations of 20, 50, 100, and 200 shekels.
The new shekel is only official means of legal tender of the nation of Israel. It is now convertible and can be exchanged in the exchange market.
GBP to ILS
In 1986, the new shekel replaced the old shekel at a rate of 1000 old shekel to 1 new shekel.
One shekel subdivides into 100 Agorot and coins are due to be reissued in the near future, these coins are to be made using nickel and fewer metals, meaning they will cost less to produce and will be harder to counterfeit. Bank Exchange Rates for Israeli New Shekel. The foreign exchange rates for Israel also known as the ISO code ILS. Send money transfer online with us with the cheapest options.