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The board decided that the new currency would be called the Palestine pound, 1:1 with sterling and divided into 1,000 mils. [7] The £P1 gold coin would contain 123.27447 grains of standard gold. [7] The enabling legislation was the Palestine Currency Order, 1927, signed by the King in February 1927. [8]
This is a list of historical currencies. Ancient Mediterranean ... Roman currency; ... Palestine pound; Rouble – Tajikistan.
The Palestine pound was not, however, used in conjunction with the normal sterling shillings and pence coinage. It was used with a decimal system in which it was divided into 1,000 mils. The Currency Board was dissolved in May 1948, with the end of the British Mandate, but the Palestinian pound continued in circulation for a transitional period:
The British Mandate of Palestine was created in 1918. In 1927 the Palestine Currency Board, established by the British authorities, and subject to the British Secretary of State for the Colonies, issued the Palestine pound (£P) which was legal tender in Mandate Palestine and Transjordan. £P1 was fixed at exactly £1 sterling.
The Israeli pound (לירה ישראלית, "lira yisraelit") was the currency of the State of Israel from June 1952 until it was replaced with the shekel on 24 February 1980. From 1955, after the Bank of Israel was established and took over the duty of issuing banknotes , only the Hebrew name was used, along with the symbol "IL". [ 8 ]
But the protests continued, reaching fever pitch in 1933, as more Jewish immigrants arrived to make a home for themselves, the influx accelerating from 4,000 in 1931 to 62,000 in 1935.
1 November – The Palestine pound, the currency of the British Mandate of Palestine between 1927 and 1948, goes into circulation. A house in the Jewish Quarter of Jerusalem which was completely destroyed during the 1927 Jericho earthquake
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