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By August 1985, the exchange rate for one U.S. dollar reached IS 1500. The new Israeli shekel replaced the shekel following its hyperinflation and the enactment of the economic stabilization plan of 1985 which brought inflation under control. It became the currency of Israel on 4 September 1985, removing three zeros from the old notes. [4]
The new shekel has been in use since 1 January 1986, when it replaced the hyperinflated old shekel at a ratio of 1000:1. The currency sign for the new shekel ₪ is a combination of the first Hebrew letters of the words shekel (ש ) and ẖadash (ח ) (new). When the shekel sign is unavailable the abbreviation NIS (ש״ח and ش.ج) is used.
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
The word shekel is based on the triliteral Proto-Semitic root ṯql, cognate to the Akkadian šiqlu or siqlu, a unit of weight equivalent to the Sumerian gin2. [1] Use of the word was first attested in c. 2150 BC under the reign of Naram-Sin of Akkad, and later in c. 1700 BC in the Code of Hammurabi.
Israeli currency may refer to these items: Israeli new shekel, used from 1985 to the present; Old Israeli shekel, used from 1980 to 1985; Israeli pound, used from 1948 to 1980; Shekel, used by the United Monarchy of Israel and the Kingdom of Israel, as well as during the Great Revolt
The new subdivision of the shekel was named agora ẖadaša ("new agora"). There were 100 new agorot in 1 shekel. The high rate of inflation in Israel in the early 1980s forced the Israeli government to change the Israeli currency once again in 1985. The new shekel was introduced at a rate of 1000 S per 1 NS. The name agora was used once again ...
The law allowed the minister to decide on the date for the change. The law came into effect in February 1980, when the Israeli government introduced the 'Israeli shekel' (now called old Israeli shekel), at a rate of IL 10 = IS 1. On 1 January 1986, the old shekel was replaced by the Israeli new shekel at a ratio of IS 1,000 : ₪1.
1000 Pakistan: Pakistani rupee: Re or Rs (pl.) PKR Paisa: 100 Palau: United States dollar $ USD Cent: 100 Palestine: Israeli new shekel ₪ ILS Agora: 100 Jordanian dinar: JD JOD Piastre [H] 100 Panama: Panamanian balboa: B/ PAB Centésimo: 100 United States dollar $ USD Cent: 100 Papua New Guinea: Papua New Guinean kina: K PGK Toea: 100 ...
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