The currency of Israel is a fairly young currency, as is the state. The renewed Israeli shekel came into circulation in September 1985, after monetary reform. One unit of the new shekel is equal to 1000 old and consists of 100 agorot.
Israel Money History
The shekel takes its name from the Hebrew word "saqal" and translates as "weigh". In historical documents dating back to the second millennium
BC, the shekel or shekel was used by the Jews, the Phoenicians, as the "biblical unit of mass" for gold or silver. And ranged from 9 to 17 grams of
noble metal. A shekel became a coin somewhere in the 5th century BC and, apparently, those thirty silver pieces of Judah were nothing but thirty Tyr shekels.
In the role of the monetary unit of the state of Israel, the shekel began to be used somewhere in the 1st century AD, when the first disobedience of the Jews occurred, which resulted in an uprising against the oppression of the Roman Empire. It was not the face value that was minted on the coins, but the letters of the Hebrew alphabet, which signified the years of the rebel struggle. And after the second uprising, when new coins began to be minted, the Jews were defeated and the existence of the shekel was forgotten for a long time.
For a very long time, the lands of Israel were considered the territory of Palestine, which was in the Ottoman Empire. In 1840, Palestine introduces the first paper
banknotes. And these treasury bills were called kurush. Then in 1922 the Ottoman Empire collapsed, and all of Palestine was supervised by the decision of the League of Nations by Great Britain. With the establishment of a new government, a new currency is introduced - the
Egyptian pound, a little later the Palestinian pound.
Shekel as the main currency of the country.
In 1948, the UN declared Israel an independent state and the Israeli currency at that time began to be called the Israeli pound, which consists of 1000 miles. 1960 was marked by the introduction of a new series of Israeli pounds. The new currency of Israel has changed its design. The five-pound banknote bore the image of Einstein, the rest depicted Israeli political figures. But, unfortunately, due to the instability of the country's economy, inflation of the money supply, banknotes changed almost every ten years. Even a denomination was made - cutting off two zeros, thus, the light was seen for the third time in the renewed currency of Israel.
Since 1969, it was planned to abandon the Israeli pound, but such an operation was kept in the strictest confidence. Since February 24, 1980, after the adoption by the Knesset of the law on the return to the shekel, the currency in Israel again underwent the cutting of zeros.
However, in 1985, the country was covered by monetary hyperinflation. The government was forced to take extreme measures and retire the depreciated shekel from circulation. His new shekel, which is still used today, has become his replacement. In circulation are money coins 10 and 50 agorot, and banknotes 1, 5, 10 shekels.
Since 1998, the updated Israeli currency has been printed from a polymeric material with a vertical design, on which there are signs for the blind. The size of all banknotes is standard 138x71.
The path of this money was quite difficult and difficult, but I want to believe that it will remain for a long time.