Which currency replaced Israel’s old shekel in 1985?

The Israeli new shekel replaced Israel’s old shekel in 1985.

The Israeli new shekel is Israel’s official currency and has the ISO 4217 code ILS. It is divided into 100 agorot and is issued by the Bank of Israel. The currency is commonly called the shekel in everyday speech, but “new shekel” distinguishes it from the earlier shekel used between 1980 and 1985.

The replacement was part of Israel’s 1985 Economic Stabilization Plan, which addressed severe inflation and introduced a currency worth 1,000 old shekels. The old shekel itself had replaced the Israeli pound in 1980. The word “shekel” is ancient: it refers to a historical unit of weight and appears in several ancient Near Eastern monetary traditions.