Israeli New Shekel

The Israeli new shekel (sign: ₪; code: ILS) is the official currency of Israel and also used as legal tender in the West Bank and Gaza Strip of Palestine. The new shekel was introduced in 1986. It replaced the old shekel, which was in circulation from 1980-1985, at a conversion rate of 1000:1. Prior to the old shekel, Israel's currency was the Israeli Pound which was used for decades. .The Israeli new shekel is most commonly referred to as the Israeli shekel. The term "shekel" stems from references to ancient currencies in the Bible.