In biblical times:
Sheqel was a measure of weight, often mentioned when specifying the amount silver or gold paid (e.g. in Genesis 23
pays 400 silver sheqels for the Machpelah's cave
to bury Sarrah
24th February 1980:
- The Israeli Sheqel (IS) was introduced as an Israeli monetary unit, to replace the Israeli Pound, and given the value of 1 Sheqel : 10 Israeli Pounds.
- The New Agora which replaced the existing Agora was given the value of 1 New Agora : 10 Agoras.
4th September 1985:
As a response to the massive inflation
in Israel, the following reforms were made:
- The New Israeli Sheqel (NIS) was introduced and given the value of 1 New Sheqel : 1000 Sheqels.
- The original Agora was reintroduced and given the value of 1 Agora : 10 Sheqels.
- A new currency sign was introduced - ₪.
As of October 2001:
The New Israeli Shekel is the Israeli national currency
, along with Agora
, which is the 1/100th of a New Israeli Sheqel. In colloquial speech, it is referred to simply as "sheqels" and "agoras".
New Israeli Sheqels are available in 1, 5 and 10 sheqel coins and 20, 50, 100, 200 and 500 sheqel banknotes.