About Israeli New Shekel
Israeli New Shekel is the official currency of Israel. The Israeli new shekel was first introduced as the legal currency of Israel in 1986. Interestingly, while the issuing authority of the Israeli new shekel is Bank of Israel, the banknotes of Shakel are printed in Switzerland and the coins are minted in South Korea! The Israeli New Shekel is abbreviated as ILS in the international currency exchange markets.Â
The new shekel is divided into 100 agora which is the sub denomination of shekel.Â
| ILS Stats | ILS Profile |
| Currency Name: Israeli New Shekel | Central Bank: Bank of Israel |
| Symbol: ILS | Denominations (Freq. Used): 20, 50, 10, 200 Israeli New Shekel |
| Subunit: Agora | Coins:10 Agora, ½, 1, 2, 5, 10₪ |
| ILS to INR Chart |
Used: Israel, Gaza Strip |
History of Israeli New Shekel
Israeli New Shekel (ILS) is the fourth currency of Israel. The first currency of Israel was Palestinian Pound when it was founded in 1948 which was renamed to British Pound in 1952. After that only in 1980, Israeli Shekel was introduced first as the official currency of Israel replacing British Pound (GBP).  Â
However, at the time of introduction of Israeli Shekel (now known as Old Shekel), during the 1980s, the economy of Israel was going through a financial crisis which led to a situation of hyperinflation. Because of the massive inflation, the shekel suffered significant value erosion in terms of depreciation in the international markets.Â
When the government introduced free-market economy with its Economic Stabilization Plan (1985), Israeli New Shekel was floated as the official currency of Israel replacing the old shekel. The value of one Israeli new shekel was fixed as 1000 old shekels. The new shekel became freely convertible currency in 2003 and fully convertible in 2008.Â
How to Convert ILS to INR at the Best Rates in India?
Not just Indian residents travel to Israel for trade & business and tourism but also many Israelis travel to India for trade, tourism and educational purposes. If you are planning to go to Israel in the near future, you may require to buy Israeli new shekel or convert ILS to INR which you can do either from banks, authorized local money changers, airports or from an online marketplace such as BookMyForex.Â
A Comparative Analysis Between BookMyForex and Other Money Changers:
| Parameter | BookMyForex | Banks/Money Changers |
| Exchange Rate | At Live Rates (Dynamic) | At Fixed Rates |
| Exchange Rate Margin | Very Low | High |
| Online Order Facility | Yes | No |
| Doorstep Delivery | Yes | No |
| Branch Visit | No | Required |
How to get the best Israeli Shekel (ILS) exchange rates in India:
Step 1: Go to BookMyForex.com and search for live Israeli new shekel exchange rates
Step 2: The website automatically compares all the rates and then offers the best current Israeli Shekel rate in your city for your transaction.
Step 3: Submit the KYC documents online which includes your Passport, Visa, AirTicket and PAN Card details and make the payment via credit/debit card or net banking.
Step 4: Congratulations! Your order has been successfully placed. Expect the same day or next day delivery.Â
Benefits of Converting ILS to INR at BookMyForex
About BookMyForex
BookMyForex was established in 2012 with the mission of bringing total transparency in the currency exchange market and provide a seamless experience to the people looking for currency exchange and forex related services in India. Apart from currency exchange services, BookMyForex also deals with forex card issuance, loading/unloading of the prepaid travel card. Traveller’s cheque and international remittance related services.
