The
Israeli new shekel (
Arabic: ) (
sign:
₪; acronym:
ש״ח and in English
NIS;
code:
ILS) (pl.
sheqalim – ; ) is the
currency of the State of
Israel. It is also used in the
Palestinian territories of the
West Bank and the
Gaza Strip. The
shekel consists of 100
agorot (sing.
agora, ). Denominations made in this currency are marked with the
shekel sign, ₪. The
Israeli new shekel has been in use since 1 January 1986 when it replaced the
old shekel that was in usage between 24 February 1980 and 31 December 1985, at a ratio of 1000:1. The authoritative spelling on Israeli coins and banknotes is
new sheqel, pl.
new sheqalim, though the spelling
shekel is also commonly used.