The Israeli New Sheqel, abbreviated as ILS, plays a fascinating role in Israel’s economic history and innovation. Introduced in 1985 to replace the hyper-inflated old shekel, it marked a turning point in stabilizing the nation’s economy with a ratio of 1,000 old shekels to 1 new shekel. A unique aspect of the ILS is its linkage to technological progress; it was one of the first currencies available for trade in digital form, highlighting Israel’s moniker as the “Startup Nation.”

Another intriguing feature of the New Sheqel is its design. Coins and banknotes are adorned with cultural and historical symbols, including the Menorah, and notable Israeli leaders and poets. The name ‘Sheqel’ itself has deep biblical roots, hearkening back to ancient times when it served as a unit of weight and currency during the era of trade along the Fertile Crescent. This enduring legacy makes the New Sheqel not merely a medium of exchange but a link to Israel’s storied past.