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Exchange rate ILS - Israeli new shekel

Israeli new shekel - Israel and Palestinian National Authority’s official currency. One shekel divides into 100 agora. In Hebrew, this currency is referred to as the "new shekel."

Currency Buy Sell Name Currency code
ILS EUR 0.2397 0.2563 Israeli new shekel 1 ILS

Israeli new shekel exchange rate - chart


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Israeli new shekel

The Israeli new shekel is the official currency of Israel. Its international symbol is ILS, also written using the abbreviation NIS (from New Israeli Shekel). It is divided into 100 agoras.

The Israeli new shekel - where is it used?

The New Shekel (ILS) is the official legal tender in Israel. The currency is also used in the Palestinian Authority. When travelling to these areas, one should check the ILS exchange rate. Israel is quite popular among tourists who are looking for slightly more exotic places to relax. For tourists, the currency exchange rate of the shekel should not be a problem. One can easily convert it in our portal.

The history of the Israeli new shekel

The New Shekel replaced the old shekel in 1985. The introduction of the new currency and a series of economic reforms were intended to halt raging inflation in Israel. The ILS exchange rate was set at the following level: 1 new shekel equalled 1,000 old shekels. Previously, in the 1980s, Israelis used the old shekel (then known as the shekel). However, its value against other world currencies was devalued. The country was also struggling with hyperinflation, which led to the introduction of a new currency. But even earlier, between 1952 and 1980, the Israeli pound was used in Israel, and its exchange rate in the early days was closely tied to the pound sterling. The etymology of the word shekel is derived from the ancient unit of the same name mentioned in the Bible. In ancient times, shekels were units of weight, equivalent to about 11 grams.

The Israeli new shekel - key information

The Israeli new shekel is divided into 100 agoras. Coins of 10 agoras, as well as ½, 1, 2, 5 and 10 shekels, are in circulation. The obverses depict, for example, a lyre, horns of plenty, lily flowers, a column head or a date palm. The reverse contains the nominal value of the coin. In the past, coins with face values of 1 and 5 agoras were also used. However, they were withdrawn from circulation. Israeli banknotes are denominated in 20, 50, 100 and 200 shekels. They depict portraits of distinguished national figures - politicians, poets, writers, etc. The older editions of the Series B banknotes, which are still accepted, were designed so that the portraits were viewed vertically. The newer series, introduced in 2014, is now done horizontally, like most banknotes worldwide. Interestingly, in 2002 a 500 shekel banknote was supposed to be released. However, those plans were eventually abandoned. The Israeli government concluded that there was no need for such a high denomination banknote. Since 2008, the shekel banknotes are polymer, but paper ones are still in use.

The Israeli new shekel - check the exchange rate

You can quickly check the shekel exchange rate online. However, it can be troublesome to get the currency before going to Israel. It is often suggested that one should take US dollars with them and exchange them for shekels on the spot. This, however, entails, in some cases, a double currency conversion. ILS can be found in the offer of some exchange offices. However, for convenience, it can also be purchased online using our portal.