Israeli Currency: A History of Transformation
From Pound to Shekel
The Israeli shekel, denoted by the currency symbol ₪, has been the official currency of Israel since 1985. It replaced the Israeli pound, which had been in circulation since the establishment of the State of Israel in 1948.
Symbol and Value
The shekel's currency symbol, ₪, is derived from the ancient Hebrew word for "weight" or "coin." The shekel's value has fluctuated over time, influenced by economic factors and exchange rates. As of today's conversion, 1 US dollar is equivalent to approximately 3.6 Israeli new shekels.
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