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The enabling legislation was the Palestine Currency Order, 1927, signed by the King in February 1927. [8] The Palestine pound became legal tender on 1 November 1927. [9] The Egyptian pound (at the fixed rate of £P1 = £E0.975) and the British gold sovereign remained legal tender until 1 March 1928. [8] [10]
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:
In 1927, the British administration of the Palestinian Mandate established the Palestine Currency Board which issued the Palestine pound which was the official currency in both Mandatory Palestine and the Emirate of Transjordan. Though Jordan became an independent kingdom on 25 May 1946, it continued to use the Palestinian pound for a while.
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.
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 ]
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The history of the State of Palestine describes the creation and evolution of the State of Palestine in the West Bank and Gaza Strip. During the British mandate period, numerous plans of partition of Palestine were proposed but without the agreement of all parties. In 1947, the United Nations Partition Plan for Palestine was voted for. The ...
Maps of Ottoman Palestine showing the Kaza subdivisions. Part of a series on the History of Palestine Prehistory Natufian culture Pre-Pottery Tahunian Ghassulian Jericho Ancient history Canaan Phoenicia Egyptian Empire Ancient Israel and Judah (Israel, Judah) Philistia Philistines Neo-Assyrian Empire Neo-Babylonian Empire Achaemenid Empire Classical period Hellenistic Palestine (Seleucus ...