ILS

AAA

DEFINITION of 'ILS'

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, and is often presented with the symbol __. This symbol represents a combination of the first letters in Hebrew of the words "sheqel" and "hadash". The currency itself is actually produced by a South Korean company, as there is no mint in Israel.

INVESTOPEDIA EXPLAINS 'ILS'

The New Sheqel was first seen in 1986 when it replaced the original sheqel currency at a ratio of 1000 to 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

    A generally accepted form of money, including coins and paper ...
  2. Hard Currency

    A currency, usually from a highly industrialized country, that ...
  3. Money

    An officially-issued legal tender generally consisting of currency ...
  4. Forex - FX

    The market in which currencies are traded. The forex market is ...
  5. ISP (Internet Service Provider)

    A company that provides consumers, businesses, and other Internet ...
  6. TIMP (acronym)

    'TIMP' is an acronym that stands for 'Turkey, Indonesia, ...
Related Articles
  1. Forex Fundamentals

    What Causes A Currency Crisis?

    Find out what can cause a currency to collapse, and what central banks can do to help.
  2. Forex Education

    The Greatest Currency Trades Ever Made

    These speculators took big positions - and scored huge profits - in the currency market.
  3. Forex Education

    The New World Of Emerging Market Currencies

    Take advantage of foreign currency markets without stepping out of your house.
  4. Investing

    How To Invest Outside Your Comfort Zone?

    Sometimes, when it comes to investing, we have to step outside of our comfort zone and use investment tools to express a market view or specific outcome.
  5. Economics

    Understanding Money Supply

    Money supply – also called money stock -- refers to the total amount of currency and other liquid financial products in an economy at a particular time.
  6. 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.
  7. Economics

    What is Fiat Money?

    Fiat money is currency that a government has declared to be legal tender, but is not backed by a physical commodity.
  8. Economics

    What is M1?

    M1 is a measurement of money supply that includes all hard currency, plus demand deposits such as checking accounts.
  9. Forex

    Best Places To Go On A Strong Dollar In 2015

    The U.S. dollar is stronger than ever, which means that traveling abroad to certain countries will be easier on the wallet.
  10. Forex

    Understanding Currency Carry Trade

    A currency carry trade is a long-term investment strategy used primarily by large institutional investors. The purpose is to make a profit over time from differences in interest rates between ...

You May Also Like

Hot Definitions
  1. DuPont Analysis

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

    A group of securities that exhibit similar characteristics, behave similarly in the marketplace, and are subject to the same ...
  3. Fiat Money

    Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat ...
  4. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  5. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  6. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
Trading Center