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ISRAELI NEW SHEKEL - ILS

Todays Date : 07/10/2014

The Israeli new shekel, symbol NIS, code ILS, is also seen spelled as the new sheqel, is the official currency for the State of Israel, a middle eastern country of nearly 8 million people. The new shekel is also used by some Palestinian territories, and is subdivided into 100 agorot, (singular: agora). The Bank of Israel in Jerusalem manages the new shekel. 

The Israeli lira and Israeli pound preceded the Israeli shekel, circulating from 1948 to 1980. This currency was replaced by the Israeli old shekel from 1980 to 1985. The Israeli new shekel replaced the old shekel in 1986 at a rate of 1,000 old to 1 new. The new Israeli shekel became a freely convertible currency in 2003 and a fully convertible currency in 2008. Israel began printing polymer banknotes as of 2008. As of December 2012, 1 USD was equal to 3.83 ILS. 

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Currency Quick Facts

Name: Israeli new shekel, shekalim (plural)

Symbol: NIS

Code: ILS

Decimal Unit: 100 agorot (singular: agora)

Nicknames: sheqel

Coins: 10 agorot; 0.5, 1, 2, 5, 10, new shekalim

Notes: 20, 50, 100, 200 new shekalim

Central Bank: Bank of Israel

Country(ies): Israel, Palestinian territories

Currency Characteristics

Israeli new shekel coins are minted in South Korea, while notes are printed in Switzerland. The state emblem appears on all coins, along with the numerical value, date of mint, and “Israel” written in Hebrew, Arabic, and English. All dates printed on the Israeli currency are written according to the Hebrew calendar format. All new shekel notes are the same size, but printed in a different color for each denomination of value. Famous Israeli figures appear on the front side of notes, while national scenes and symbols are displayed on their reverse. 

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