ILS (Israeli New Shequel)

DEFINITION of 'ILS (Israeli New Shequel)'

The currency abbreviation or currency symbol for the Israeli new sheqel (ILS), the currency for Israel. The new sheqel is made up of 100 agorot. This symbol represents a combination of the first letters in Hebrew for the words "sheqel" and "hadash". The currency itself is actually produced by a South Korean company, as there is no mint in Israel.

BREAKING DOWN 'ILS (Israeli New Shequel)'

The new sheqel was first seen in 1986 when it replaced the original sheqel currency at a ratio of 1000:1. It became a freely convertible currency in 2003, and began trading derivatives in 2006. The currency became fully convertible in 2008.

RELATED TERMS
  1. Currency Symbol

    A graphical symbol used as a substitute for the actual name of ...
  2. Hard-Coded Stock

    This is a term that refers to a company's stock symbol or ticker ...
  3. Tel Aviv Stock Exchange (TLV) .TA

    The securities market in Israel. Securities exchange in Israel ...
  4. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  5. KRW (Korean Won)

    The currency abbreviation or currency symbol for the Korean won ...
  6. Currency Pair

    The quotation and pricing structure of the currencies traded ...
Related Articles
  1. Economics

    Why Israel Is Attracting Chinese Investors (BIDU)

    Chinese investment in Israel has taken off since 2011. What opportunities do Chinese investors see in the country, and what does the trend mean for Israel?
  2. Economics

    Fast-Growing Israeli Startups Pulling Investors In

    Due to its government's policies, and an innovative defense sector that offers high-level training, Israel has become fertile ground for tech startups.
  3. Investing

    Israel-U.S. Relations: Economic Aspects You Didn't Know

    The relationship between the United States and Israel is a lightning rod for controversy and is mired in politics and emotion.
  4. Trading Strategies

    Simulator How-To Guide: Ticker Symbol Look Up

    As you noticed while you were buying shares of Wal-Mart, all brokerages (simulated or not) require you to input the company's stock symbol to place any trade. In fact, all stock exchanges ...
  5. Term

    Keeping Securities Clear With Ticker Symbols

    A ticker symbol is a group of characters that represent a specific, publicly traded security that’s listed on an exchange.
  6. Forex Education

    Forex Tutorial: Reading a Forex Quote and Understanding the Jargon

    One of the biggest sources of confusion for those new to the currency market is the standard for quoting currencies. In this section, we'll go over currency quotations and how they work in ...
  7. Forex Education

    Forex Currencies: Conclusion

    By Brian Perry Conclusion The currency markets are the largest and most actively traded financial markets in the world with daily trading volume of more than $3 trillion (Triennial Central ...
  8. Forex

    Currencies

    The major currencies in the forex market.
  9. Markets

    What Happens in a Currency Crisis?

    A currency crisis comes from a decline in the value of a country’s currency.
  10. Forex

    More On Quotes

    Learning about spreads and pips in forex and the different ways currencies can be quoted.
RELATED FAQS
  1. Is Israel a developed country?

    Read about how Israel is a developed country with a highly advanced technology sector. Learn how Israel still has poverty ... Read Answer >>
  2. Why do some stock symbols have three letters while others have four? What is the ...

    Stocks found on the New York and American Stock Exchange will normally have symbols with three letters or fewer. On the other ... Read Answer >>
  3. Why is the U.S. dollar shown on the top of some currency pairs and on the bottom ...

    All currencies are traded in pairs. The first currency in the pair is called the base currency while the second is called ... Read Answer >>
  4. Why do forex traders use a currency converter?

    All currencies are quoted in pairs - one country's currency against another country's currency. A currency converter is used ... Read Answer >>
  5. Why isn't the EUR/USD currency pair quoted as USD/EUR?

    In a currency pair, the first currency in the pair is called the base currency and the second is called the quote currency. ... Read Answer >>
  6. Is there a world currency? If so, what is it?

    There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has ... Read Answer >>
Hot Definitions
  1. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  2. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  3. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  4. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  5. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  6. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
Trading Center