# new shekel

> currency of Israel and occupied territories

**Wikidata**: [Q131309](https://www.wikidata.org/wiki/Q131309)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Israeli_new_shekel)  
**Source**: https://4ort.xyz/entity/new-shekel

## Summary
The new shekel is the official currency of Israel and the occupied Palestinian territories, having been introduced on January 1, 1985. It is the successor to the Old Israeli shekel and is subdivided into smaller denominations known as Israeli agora. Commonly abbreviated as ILS or NIS, it serves as the generally accepted medium of exchange and legal tender in the region.

## Key Facts
- **Inception:** The currency was officially established on January 1, 1985.
- **Jurisdiction:** It functions as the currency of Israel and the occupied territories, including the West Bank, Gaza Strip, and Golan Subdistrict.
- **Predecessor:** It was preceded by the Old Israeli shekel, which was the currency of the State of Israel between February 24, 1980, and December 31, 1985.
- **Subunit:** The currency includes the Israeli agora as a denomination.
- **Aliases:** It is also known as the shekel, NIS, new Israeli shekel, Israeli new sheqel, new Israeli sheqel, ILS, ₪, Israeli new shekel, and new sheqel.
- **Classification:** It is classified as a currency, acting as a generally accepted medium of exchange, and is recognized as legal tender.
- **Historical Context:** The shekel is historically connected to the ancient unit of currency of the same name.
- **Financial Hub:** It is utilized by the Tel Aviv Stock Exchange, a stock exchange located in Tel Aviv, Israel.

## FAQs
**What territories use the new shekel?**
The new shekel is the currency of Israel and is also used in the occupied Palestinian territories, specifically the West Bank, the Gaza Strip, and the Golan Subdistrict.

**What currency did the new shekel replace?**
It replaced the Old Israeli shekel, which served as the currency of the State of Israel from February 24, 1980, until December 31, 1985.

**What are the subunits of the new shekel?**
The new shekel is subdivided into denominations known as the Israeli agora.

**How is the new shekel abbreviated?**
The currency is identified by several abbreviations and symbols, including ILS, NIS, and the symbol ₪.

## Why It Matters
The new shekel plays a critical role in the economic stability of Israel and the occupied territories, serving as the primary medium of exchange for goods and services. Introduced in 1985, it marked a significant monetary reform following the hyperinflation period associated with the Old Israeli shekel. Its usage extends across complex geopolitical boundaries, functioning as the legal tender for diverse populations in Israel, the West Bank, Gaza Strip, and the Golan Subdistrict. As the currency used by the Tel Aviv Stock Exchange, it underpins the financial infrastructure of the region.

## Notable For
- Replacing the Old Israeli shekel in 1985 to stabilize the economy.
- Serving as legal tender in both Israel and the occupied Palestinian territories (West Bank, Gaza Strip).
- Being the currency of operation for the Tel Aviv Stock Exchange.
- Maintaining a historical connection to the ancient shekel unit of currency.
- Being utilized by specific regional infrastructure such as the Rav-Kav digital pass system.

## Body

### Historical Context and Inception
The new shekel was introduced on January 1, 1985, as a replacement for the Old Israeli shekel. The Old Israeli shekel had a relatively short lifespan, serving as the currency of the State of Israel only between February 24, 1980, and December 31, 1985. The transition to the new shekel marked a significant update to the nation's monetary system. The currency's name and concept are derived from the shekel, an ancient unit of currency, linking modern financial practices to historical roots.

### Geographic Usage and Jurisdiction
The primary jurisdiction for the new shekel is Israel, a country in West Asia that declared its independence in 1948. Beyond Israel's sovereign borders, the currency is also the designated medium of exchange for the occupied territories. This includes the West Bank, a Palestinian territory on the western bank of the Jordan River occupied by Israel, and the Gaza Strip, a self-governing Palestinian territory next to Egypt and Israel. Additionally, the currency circulates in the Golan Subdistrict, a subdistrict in the Northern District of Israel. This broad geographic reach encompasses various political entities, including the State of Palestine, which declared its independence in 1988, and specific cities such as Tulkarm and Salfit in the West Bank.

### Financial and Economic Infrastructure
The new shekel is integral to Israel's financial sector, particularly through its association with the Tel Aviv Stock Exchange. Established in 1953 and located in Tel Aviv, the stock exchange operates using this currency. The currency is further embedded in daily life through systems like the Rav-Kav, an Israeli public transportation digital pass introduced in 2007, which likely utilizes the currency for transaction processing.

### Related Entities and Infrastructure
Several key entities are related to the production and management of the currency. Orell Füssli, a public company founded in 1519 and headquartered in Zurich, is listed as a related entity, potentially indicating a connection to currency printing or financial security. The currency is classified broadly as a "currency"—a generally accepted medium of exchange—and specifically as "legal tender," meaning it is recognized by the legal system as valid for meeting financial obligations.

### Denominations and Symbols
The currency includes the Israeli agora as its denomination. It is recognized globally and digitally through various aliases and codes, including ILS (ISO code), NIS (New Israeli Shekel), and the symbol ₪. Other names include Israeli new sheqel, new Israeli sheqel, and new sheqel, reflecting variations in transliteration.

## References

1. Freebase Data Dumps. 2013