Israeli New Shekels (ILS)

Israeli New Shekels (ILS) is the official currency of Israel. It is issued and used by the Bank of Israel. The Israeli New Shekel replaced the Israeli Lira in 1985 and has been in circulation since then. It is represented by the ISO 4217 code ILS.

The Israeli New Shekel is divided into subunits called agorot, with 100 agorot equal to 1 shekel. However, in practice, agorot are not commonly used, and prices are usually expressed in shekels. The currency is available in both banknotes and coins. Banknotes come in denominations of 20, 50, 100, and 200 shekels, while coins are available in denominations of 10 agorot, ½ shekel, 1 shekel, 2 shekels, 5 shekels, and 10 shekels.

The Israeli New Shekel plays a significant role in the Israeli economy and trade. It is widely used by tourists visiting Israel as well. Israel’s strong position in the high-tech sector and innovation has contributed to the international acceptance of the New Shekel in financial markets.

The Israeli New Shekel is also traded in international foreign exchange markets. The performance of the Israeli economy can influence the value of the New Shekel. Factors such as Israel’s trade balance, inflation rate, interest rates, and other economic indicators can cause fluctuations in the value of the Israeli New Shekel.

In summary, the Israeli New Shekel is the official currency of Israel and an important part of the country’s economy. It is represented by the ISO 4217 code ILS. The currency is available in banknotes and coins and is traded in international financial markets.