Israeli new sheqel

Infobox Currency
currency_name_in_local = שקל חדש he icon شيقل جديد ar icon
image_1 = Nis 1 sheqel.png image_title_1 = 1 sheqel coin
iso_code = ILS
using_countries = flag|Israel, flag|Palestinian territories The West Bank, Gaza Strip
inflation_rate = 0.5%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2007
subunit_ratio_1 = 1/100
subunit_name_1 = agora
symbol = ₪
plural = sheqalim (unofficially shkalim)
plural_subunit_1 = agorot
used_coins = 10 agorot, ½, 1, 2, 5, 10 new sheqalim
used_banknotes = 20, 50, 100, 200 new sheqalim
issuing_authority = Bank of Israel
issuing_authority_website = www.bankisrael.gov.il

The Israeli New Sheqel (Hebrew Name 1|שקל חדש|sheqel ḥadash) (sign: ₪; code: ILS) (also spelled unofficially "shekel"; pl. "sheqalim" or unofficially "shkalim" - שקלים ,Arabic: شيقل جديد, "shiqel jadid" or شيكل جديد "shikel jadid") is the currency of Israel. It replaced the sheqel on January 1, 1986 at a rate of 1,000 old sheqalim = 1 new sheqel. The ISO 4217 code is "ILS" . The new sheqel is divided into 100 "agorot" (אגורות) (sing. "agora", Hebrew: אגורה).

In Hebrew the new sheqel is usually abbreviated ש"ח (pronounced "shaḥ"). The symbol for the new sheqel, ₪, is a combination of the first Hebrew letters of the words "sheqel" (ש) and "ḥadash" (ח). This symbol, however, proved unpopular, and the two-letter abbreviation is far more common in advertisements and on price tags.

Since January 1, 2003, the ILS has been a freely convertible currency. Since May 7, 2006 sheqel derivative trading has also been available on the Chicago Mercantile Exchange. [cite web | author=Chicago Mercantile Exchange Press Release | date=2006-04-06 | url=http://www.cme.com/about/press/cn/06-45Shekel18024.html| title=CME to Launch Foreign Exchange Contract on Israeli Sheqel] This makes the sheqel one of only twenty or so world currencies for which there are widely-available currency futures contracts in the foreign exchange market. It is also a hard currency, with access available to it in almost any place in the world. [ [http://www.haaretz.com/hasen/spages/954033.html Israelis can soon travel the world with shekels in their pockets] Haaretz] [ [http://www.jpost.com/servlet/Satellite?pagename=JPost%2FJPArticle%2FShowFull&cid=1211434107513 Shekel begins trading on global markets] Jerusalem Post]

On May 26, 2008, CLS Bank International (CLS Bank) has announced that it will settle payment instructions in Israeli New Shekel, thus making this currency fully convertible. [cite web | author=CLS Press Release | date=2008-05-26 | url=http://www.cls-group.com/news/article.cfm?objectid=127EC3A9-F263-C9E9-19BE3E0623DCF229&origin=26E70E8A-14C7-4247-BC9E9B0B321D4D68| title=CLS Bank live with Israeli Shekel and Mexican Peso]

The currency is not produced in Israel, as the country has no mint. Currently, the coins are minted at Korea Minting and Security Printing Corporation (KOMSCO), the banknote and coin producer of South Korea.

Coins

In 1985, coins in denominations of 1, 5 and 10 agorot, ½ and 1 new sheqel were introduced. [cite web |url=http://www.bankisrael.gov.il/catal/eng/cat_all_eng.htm?series_num=25&series_name=Agora%20and%20New%20Sheqel%20Series |title= About the Agora and New Sheqel Series|accessdate=2007-12-26 |author= |date= |work=Banknotes and Coins Catalog|publisher=The Bank of Israel] In 1990, 5 new shqalim coins were introduced, [cite web |url=http://www.bankisrael.gov.il/catal/eng/bill_all_eng.htm?series_num=25&series_name=Agora%20and%20New%20Sheqel%20Series&pg_name=c040&pg_kot=5%20NEW%20SHEQALIM |title= 5 NEW SHEQALIM |accessdate=2007-12-26 |author= |date= |work=Banknotes and Coins Catalog|publisher=The Bank of Israel] followed by 10 new shqalim in 1995. [cite web |url=http://www.bankisrael.gov.il/catal/eng/bill_all_eng.htm?series_num=25&series_name=Agora%20and%20New%20Sheqel%20Series&pg_name=c041&pg_kot=10%20NEW%20SHEQALIM |title= 10 NEW SHEQALIM |accessdate=2007-12-26 |author= |date= |work=Banknotes and Coins Catalog|publisher=The Bank of Israel] Production of 1 agora pieces ceased the same year, and they were removed from circulation on April 1, 1991.Fact|date=December 2007 A 2 new shqalim coin was introduced on December 9, 2007.cite web |url=http://www.bankisrael.gov.il/press/eng/070708/070708e.htm |title= Press Release:The new NIS 2 coin |accessdate=2007-12-26 |author= |date=2007-07-08 |work= |publisher=The Bank of Israel] The 5 agorot coin, last minted in 2006, was removed from circulation on January 1, 2008.cite web|url=http://www.bankisrael.gov.il/press/heb/080101/080101m.htm|title=Abolishment of the 5 agorot coin.|language=Hebrew|accessdate=2008-01-01|date=2008-01-01|publisher=The Bank of Israel]

Circulation coins of the new sheqel are:

Gallery

ee also

* Economy of Israel
* Sheqel sign

References

External links

* [http://www.bankisrael.gov.il/catal/cataloge.htm Bank of Israel catalogue of Israeli currency since 1948] Standard numismatics external links
world_coin_gallery_1_url = Israel
world_coin_gallery_1_name = Israel
banknote_world_1_url = israel
banknote_world_1_name = Israel
dollarization_1_url = asia
dollarization_1_name = Asia
gfd_1_url = Israel
gfd_1_name = Israel
gfd_data_1_url =
gfd_data_1_name =
show_gfd_excel = Y
* [http://www.bankisrael.gov.il/eng.shearim/ Exchange rates since 1948]
* [http://www.amerisrael.com American Israel Numismatic Association]
* [http://www.coins.co.il Israel Government Coins and Medals Corporation]
* [http://www.hamara.co.il/money-change-currency.php?sum=1&source=USD&target=ILS Current Sheqel Dollar Rate]
* [http://sheqel.info SHEQEL - The Online Catalog of Israel Numismatics 1927 - present]