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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.
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.
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 .
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
A passbook issued before the official adoption of prutot, and denominated in pounds and mils. The pound or lira (Hebrew: לירה ישראלית Lira Yisra'elit, Arabic: جنيه إسرائيلي Junayh ʾIsrāʾīlī; abbreviation: IL [1] in Latin, ל"י in Hebrew; code ILP) was the currency of the State of Israel from 9 June 1952 until 23 February 1980.
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