The Israeli currency is called the new Israeli shekel (NIS), which is commonly known as the shekel. The shekel has been the official currency of Israel since 1985, when it replaced the old Israeli shekel.

History of the Israeli Currency
The shekel has a long and rich history, dating back to ancient times. The first shekels were minted in the Land of Israel around 1550 BC. The shekel was used as a currency in the Land of Israel for centuries, until it was replaced by the Roman denarius in the 1st century AD.
After the establishment of the State of Israel in 1948, the Israeli pound was introduced as the official currency. The Israeli pound was pegged to the British pound sterling until 1954, when it was devalued and pegged to the US dollar.
In 1985, the Israeli pound was replaced by the new Israeli shekel. The new Israeli shekel was initially pegged to the US dollar, but it was allowed to float freely in 1997.
Israeli Currency Today
Today, the new Israeli shekel is a freely floating currency that is traded on the foreign exchange market. The shekel is one of the most traded currencies in the Middle East, and it is also widely used in the Palestinian territories.
The shekel is divided into 100 agorot. The agorot is no longer used in everyday transactions, but it is still used in some official contexts.
Israeli Currency Coins and Banknotes
The Bank of Israel issues Israeli currency coins and banknotes. The coins are available in denominations of 1, 5, 10, and 20 agorot, and 1, 2, 5, and 10 shekels. The banknotes are available in denominations of 20, 50, 100, and 200 shekels.
Exchange Rates
The exchange rate between the Israeli shekel and other currencies fluctuates constantly. The current exchange rate can be found on the Bank of Israel’s website.
Tips for Exchanging Currency in Israel
When exchanging currency in Israel, it is important to compare rates from different exchange bureaus. The rates can vary significantly, so it is worth shopping around to get the best deal.
It is also important to be aware of the fees that may be charged for exchanging currency. Some exchange bureaus charge a flat fee, while others charge a percentage of the amount exchanged.
Currency Converter
Here is a currency converter that you can use to convert between the Israeli shekel and other currencies:
Frequently Asked Questions
What is the currency of Israel called?
The currency of Israel is called the new Israeli shekel (NIS), which is commonly known as the shekel.
What is the symbol for the Israeli shekel?
The symbol for the Israeli shekel is ₪.
How much is 1 US dollar worth in Israeli shekels?
As of March 8, 2023, 1 US dollar is worth approximately 3.40 Israeli shekels.
Where can I exchange currency in Israel?
You can exchange currency in Israel at banks, exchange bureaus, and hotels.
- The Bank of Israel is the central bank of Israel.
- The Israeli shekel is the 20th most traded currency in the world.
- The Israeli shekel is a popular currency for tourists visiting Israel.
- The Israeli shekel is a relatively stable currency, with a low inflation rate.
I hope this article has been helpful. If you have any other questions, please feel free to ask.