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USD vs ILS CURRENCY CONVERTER

UNIQUE DOMAIN:   www.₪.com

Interested to learn more about the ₪.com domain name, how you can use it and even own it?

HOW TO ENTER THE SYMBOL

If you are not using a hebrew keyboard you can still easily type the ₪ symbol into Microsoft Word on a PC, a Mac computer, or an iOS or Android device.

Visit ITProToday to learn how.

EXCHANGE RATES AND NEWS

(12 Dec 2023)

The Israeli New Shekel (ILS) has been impacted by several factors in recent times. The Hamas terror attacks in October 2023 have had a significant impact on the currency, causing it to tumble sharply. The central bank of Israel has been pumping billions of dollars into the currency markets to prevent further collapse. Credit ratings agencies Fitch and Moody’s both put Israel’s government bonds on watch for downgrade. The Bank of Israel reduced its forecast for economic growth this year to 2.3% from 3% on Monday, while raising forecasts for debt and deficits due to military spending and outlays to support the economy more broadly.

For up-to-date news visit TradingView USD/ILS News

For up-to-date currency charts visit TradingView USD/ILS Charts  

BACKGROUND

Israel is a Middle Eastern country located on the Mediterranean Sea. It is regarded by Christians, Jews, and Muslims as the biblical Holy Land. Israeli new shekel (ILS) is the country's official currency issued by the Bank of Israel. It is comprised of 100 agorot. The word "shekel" was originally a unit of weight that was approximately one ounce. In 1980, the shekel replaced the Israeli lira as the currency of Israel.

As of 2016, the new shekel is issued by the Bank of Israel, while Switzerland produces the banknotes and South Korea, the coins. There are distinct divisions of the new shekel which includes 0.5 shekel and 10 agorot. In 1986, the new shekel served as the official currency of Israel. The old shekel underwent a period of inflation during the 1980s. The new shekel replaced it then in 1986 at a ratio of 1,000:1. The new rate shifted into one new shekel corresponding to 1,000 old sheqalim. The new shekel has managed long-lasting stability despite a slump in Israel within 2008 and 2009. This is thanks to the implementation of Israel's new economic policies and the state's banks' prosperity. In 2003, the Israeli new shekel grew into a freely convertible currency, beginning trading derivatives in 2006, and became fully convertible in 2008.

The Bank of Israel issues bills and coins, which are based on the new shekel system. These bills and coins, in turn, come as part of a series that the Bank of Israel issues periodically. Following an initial series of the new shekel, in 1999, the country issued a second series. This series added new features, including security features to safeguard against forgery. Naomi Rosner and Meir Eshel designed the second series of bills and coins.

In 2014, the third series came out, and this series endeavored further to enhance the security features of the second series to protect the economy from counterfeit money. This series also came with features that made money much easier to handle by the blind and people with other eyesight issues. Design on the new shekels of the third series showcases themes and poets important to Israel. With this series, the Bank of Israel adopted the standard English spelling of "shekel," while earlier versions used the traditional Hebrew translations of "sheqel." 

RECENT CURRENCY EXAMPLES

Banknotes and Coins

100 New Shekels Banknote
Range of Shekel banknotes

100 Shekels

10 Shekel coin

10 Shekels

50 Shekels

1 Shekel coin

1 Shekel

THE OLD ISRAELI SHEKEL

The short-lived old Israeli shekel was the nation’s monetary unit between February 24, 1980 and December 31, 1985. It was introduced to replace the Israeli pound and was subdivided into 100 new agorot or agoras. Due to hyperinflation and following the ratification of the stabilization plan of 1985 that kept the inflation manageable, the old shekel was demonetized and was removed from circulation.

Early Bank of Palestine 50 Pound note

The first old shekel banknotes bear the same design elements as the lira banknotes, except that one zero was dropped from each denomination. However, these paper bills depict a significant personality on the obverse with a landmark in the background. Their watermark reflects an image of the featured person on the obverse. 

Old Israel banknote for 500 Old Shekels

THE NEW ISRAELI SHEKEL

The new shekel is the country’s currency since 1985. It replaced the old shekel, removing three zeros from the old legal tender. In addition, the first series of the new shekel was in denominations of 1 new shekel, 5, 10, 50, 20, 100, and 200 new sheqalim. 

Israeli 10 New Sheqalim 1987 Banknote
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