Israeli new sheqel (ILS)
The Israeli new sheqel (ILS, symbol ₪) is the official currency of Israel and is also used in the Palestinian territories, issued by the Bank of Israel. Introduced in September 1985, it replaced the hyperinflated original Israeli shekel at a rate of 1,000 old shekels to one new sheqel. The new sheqel is subdivided into 100 agorot and operates as a fully convertible currency under a floating exchange rate system.
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