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The pegging to sterling was abandoned on 1 January 1954, and in 1960, the sub-division of the Israeli pound was changed from 1,000 prutot to 100 agorot. Because lira ( Hebrew : לִירָה ) was a loanword from Latin , a debate emerged in the 1960s over the name of the Israeli currency due to its non-Hebrew origins.
The old Israeli shekel, then known as the shekel (Hebrew: שקל, formally sheqel, pl. שקלים , Sheqalim ; Arabic : شيكل , šēkal, formerly Arabic : شيقل , šēqal until 2014; code ILR), was the currency of the State of Israel between 24 February 1980 and 31 December 1985.
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 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.
Both Israeli shekels are solely units of fiat currency, and not related to the weight of any precious metal. With the 2014 series of notes, the Bank of Israel abandoned the transcriptions Sheqel and Sheqalim in favor of the standard English forms Shekel and Shekels .
In 1980 the Israeli pound was replaced by the shekel at a rate of IL10 per IS 1. 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.
Abraham weighs out 400 shekels of silver (about 4.4 kg, or 141 troy oz) in order to buy land for a cemetery at Machpelah. (1728 illustration, based on Genesis 23) The Babylonian system, which the Israelites followed, measured weight with units of the talent, mina, shekel (Hebrew: שקל), and giru, related to one another as follows: 1 shekel ...
Writings from Ugarit give the value of a mina as equivalent to fifty shekels. [10] The prophet Ezekiel refers to a mina (maneh in the King James Version) also as 60 shekels, in the Book of Ezekiel 45:12. Jesus of Nazareth tells the "parable of the minas" in Luke 19:11–27, also told as the "parable of the talents" in Matthew 25:14–30.