Timeline

• 12.12.1918
• British Military Administration ordinance [No. 73A] on the adoption of the Egyptian Pound as the unit of account and rating of other coinage in circulation; effective immediately
• 02.01.1921
• British High Commissioner's ordinance [No. 36] on the demonetization of all circulating coinage except for the British Sovereign; effective 22.01.1921

Timeline

• 07.02.1927
• AH:04.08.1345
• Law [Currency Order] on the introduction of a currency for Palestine and Transjordan territories; effective 01.11.1927
• 01.04.1927
• AH:28.09.1345
• Ordinance [Currency Notes] on the issuance of paper money by the Palestine Currency Board; effective 01.11.1927
• 01.11.1927
• Start of currency exchange:
  - 01.11.1927: Start of issuance of the new banknotes and coins
  - 29.02.1928: Demonetization of the British Sovereign
  - 31.03.1928: Demonetization of the Egyptian currency.

Valuation Regimes

• 1946-1947
• Fixed rate against British Pound

Timeline

• 16.08.1948
• HE:11.11.5708
• Ordinance [Currency Notes, No. 18] of the provisional council on the issuance of paper money by the Anglo-Palestine Bank; effective 17.08.1948
• 16.08.1948
• HE:11.11.5708
• Ordinance [Currency, No. 19] of the provisional council on the introduction of an Israeli currency; effective 17.08.1948
• 17.08.1948
• Start of currency exchange:
  - 17.08.1948: Start of issuance of the new banknotes and coins
  - 15.09.1948 [HE:11.12.5708]: Demonetization of the Palestinian currency.
• 23.12.1948
• HE:21.03.5709
• Ordinance [Coin, No. 27] of the temporary government on the name change of the sub-unit from "Mil" to "Pruta"; effective immediately
• 01.05.1951
• Nationalization of the Anglo-Palestine Bank and name change into "Israeli National Bank (Bank Leumi)":
  - 09.06.1952: Start of exchange of the paper money
  - For denominations of 10, 5 Pounds 10% of the amount was deducted and transformed into state loan (the same deduction had been done on the bank deposits)
  - 30.05.1953: End of exchange period and demonetization of the former paper money.
• ??.??.1959
• Ordinance on the change of the sub-unit from "Pruta" (thousandth) to "Agora" (hundredth); effective 01.01.1960

Valuation Regimes

• 1948-1953
• Fixed rate against British Pound
• 1954-1975
• Fixed rate against US Dollar
• 1975-1980
• Variable rate

Timeline

• 04.06.1969
• HE:18.09.5727
• Law on the currency reform at a date to be determined on the recommendation of the Governor of the Bank of Israel
  - in May 1978 the effective date was put to 22.02.1980 [HE:03.06.5740]
• 24.02.1980
• Start of currency exchange:
  - 24.02.1980: Start of issuance of the new banknotes and coins
  - 30.09.1980 [HE:20.01.5741]: Demonetization of the former currency.

Valuation Regimes

• 1980-1985
• Variable rate

Timeline

• 02.09.1985
• HE:16.12.5745
• Law on the currency reform; effective 04.09.1985
• 04.09.1985
• Start of currency exchange:
  - 04.09.1985: Start of issuance of the new banknotes and coins
  - 31.12.1985 [HE:19.04.5745]: Demonetization of the former currency.
• 10.03.2011
• Announcement of the Bannk of Israel to change the English spelling of the denominations on banknotes from "Sheqal" (pl. "Sheqalim") to "Shekel" (pl. "Shekels") and the Arab spelling from "šīqal" to "šīkal"; implemented with the third banknote series of September 2014

Valuation Regimes

• 1985-1987
• Fixed rate against US Dollar
• 1987-
• Variable rate