Israel uses the new shekel as its official currency.
The currency’s formal name is the Israeli new shekel, and its ISO currency code is ILS. It is divided into 100 agorot and is issued and managed under the authority of the Bank of Israel.
The new shekel replaced the old shekel in 1985 as part of a major currency reform. The word “shekel” comes from an ancient unit of weight used in the region and appears in historical and biblical sources.
The Israeli new shekel is often confused with the Jordanian dinar or the Palestinian pound because they are used in the same broad region. The shekel is Israel’s official currency; its symbol is commonly written as ₪.