Israeli New Shekel (ILS)

About About the Israeli New Shekel

The Israeli "New Shekel" (plural: shekalim), also spelled as "sheqel", is the official currency used in the State of Israel, and is frequently used in the Palestinian territories. The adjective "new" was added to the name as part of the introduction of a new shekel currency to replace the previous shekel which had become too diluted from inflation. Its official currency code is "ILS" and it is symbolized by "₪". The primary denominations include 1, 5 and 10 agorot coins; ½, 1, 2, 5, and 10 new shekel coins (1 new shekel = 100 agorot); and 20, 50, 100, and 200 shekalim paper bank notes. In Israel, decimal numbers are denoted using a point (e.g. 1.50). The new shekel has a floating exchange rate that is controlled for inflation.

Central Bank: Bank of Israel

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