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Israeli Shekel
About The Israeli Shekel: The Currency of Israel
Quick Facts About the Israeli Shekel Notes
| Country of Origin | Israel |
| Symbol | ₪ |
| Currency Code | ILS |
| Nick Names | |
| Minor units | Shekel |
| Denominations (Banknotes) | ₪20, ₪50, ₪100 and ₪200 |
| Motto | |
| Identification Feature | On a ₪200 note, there is an image of Zalman Shazar, an Israeli politician, author and poet, on the obverse side. |
| Issuing Bank | Bank of Israel |
| In Circulation Since | September 4, 1985 |
The new Israeli shekel is Israel's official currency. The value of one new shekel is equal to one hundred agorot. Since the year 1986, the Israeli Shekel has served as the country's primary unit of currency. The old Israeli shekel, which had been overvalued in the past, was eventually replaced by the nis new Israeli shekel. ILS is the Israeli new shekel currency code. The Israeli Shekel symbol is ₪. The Israeli new shekel denominations for bank notes include ₪20, ₪50, ₪100 and ₪200.
The live Israeli Shekel rate is INR (0 ) . You can keep an eye on the real-time Israeli Shekel price.
History of the Israeli Shekel
The Israeli New Shekel is the country of Israel's newly introduced fourth currency (ILS). In 1952, the Palestine Pound was dethroned as the nation's official currency and succeeded by the Israeli Pound. Both were at one time connected to the pound sterling of the United Kingdom (GBP). However, the connection between the Israeli pound and sterling was severed in 1954.
Although there was a lot of public support for a Hebrew-sounding currency in Israel, it wasn't until 1980 that the government formally abandoned the pound note in favour of the shekel. The fact that the word "shekel" appears in the Bible raises the possibility that it was originally a grain measurement unit.
As a direct consequence of a severe economic downturn that occurred in the 1980s, inflation rates shot through the roof. After a period of time, the Israeli government took steps to stabilise the economy, including enacting free-market reforms and releasing a new shekel into circulation in the year 1986. After that event, the ILS rose to prominence as one of the most reliable currencies in use across the world. The Israeli new shekel symbol is ₪, and the Israeli new shekel pronunciation is pretty easy as well.
In 2003, it completed the process of being fully convertible, and in the same year, trading in derivatives began on the Chicago Mercantile Exchange (CME). The state of Israel used the shekel as its official currency from February 24, 1980 to December 31, 1985. This version of the shekel is now referred to as the old shekel. Throughout the 1960s and 1970s, devaluations of the Israeli Shekel and its predecessor, the Israeli pound, were rather common when measured against other currencies. This pattern reached its zenith at the beginning of the 1980s with the hyperinflation of the old shekel.
At a rate of 1,000 Israeli Shekels to one New Shekel, the old shekel was phased out and replaced with the new shekel on January 1, 1986. Also Palestine currencies Israeli new shekel was established.
Countries Accepting the Israeli Shekel
The Israeli Shekel is the legal tender in Israel and is used as the sole currency for all kinds of transactions here. The Israeli shekel is also recognised as legitimate money in the West Bank and the Gaza Strip.
Countries Accepting the Israeli Shekel
The Israeli Shekel is the legal tender in Israel and is used as the sole currency for all kinds of transactions here. The Israeli shekel is also recognised as legitimate money in the West Bank and the Gaza Strip.
Amount in the Israeli Shekel You Should Carry for Your Trip
Before beginning the planning process for a trip to Israel, there are a few things that are important to keep in mind. The country of Israel offers a wide variety of experiences, some of which include its cuisine, housing, and transportation options.
On average, one needs ₪142 per day to explore Israel on a shoestring budget. If, on the other hand, you decided to splurge on luxurious accommodations and dining venues throughout your trip, the total cost of your vacation might easily reach ₪813 per day. Generally speaking, the cost of travel to Israel for two persons will range anywhere from ₪300 to ₪1,700.
A single night's stay in an Israeli hotel can cost anywhere from ₪80 to ₪457, with the average cost falling somewhere in the middle. Your total cost for going around town could range anywhere from ₪10 to ₪70 depending on whether you take a cab, a bus, or some other form of public transportation. The bus is likely to be the cheapest option.
You can check the Israeli Shekel rate today in order to plan a cost-effective vacation.
Best Ways to Identify Counterfeit Israeli Shekel Notes
There are a few ways through which you can spot the counterfeit Israeli Shekel notes:
When the Israeli new shekel notes are held up to the light, a watermark picture of the portrait appears, which is the same as the image portrayed on the obverse of the banknote, along with the denomination.
banknote's denomination is made by a series of tiny holes punched through the middle of the top portion of the note. These holes are referred to as perforated numerals. Bring the bill into the light, and make sure to pay attention to the specifics.
A green security thread that is embedded in the bill and can be seen via one of the three windows on the rear. It is possible to read the bill once it has been held up to the light. The colour of the thread will alter depending on the angle at which the bill is held.
Intaglio, also known as raised ink, is used to write the portrait of the Governor, his signature, the Hebrew and Gregorian years, messages in three languages, and Braille identifiers on the sides of the banknote. If you run your finger over the characteristics on either side of the bill, you will be able to detect the raised ink that is present.
Several characteristics of an authentic banknote are only discernible when seen with ultraviolet light.
The serial digits on the bill appear and disappear at unpredictable intervals when seen at eye level or when the bill is tilted.
On this bill, the denomination, a poem, and the Hebrew words that translate to "Bank of Israel" are all printed in a very small font. To make out these letters and numbers with your bare eyes or with the assistance of a magnifying glass is completely unnecessary.
The seven-branched menorah as well as its individual components are depicted on the Shekel Israeli currency. When held up to the light, the design on the bill creates the shape of a complete "Menorah."
Banknotes of the most recent generation come in a variety of sizes. There is a difference of 7 millimetres in size between the various denominations.
On a white background, smaller numerals that are lighter in colour are printed in raised ink, whilst larger digits that are darker are printed on a black background.
A transparent and glittering stripe that runs vertically next to the image on banknotes can be seen through the paper. This component of the design is referred to as the "glittering stripe".
Process of Exchanging the Israeli Shekel
The process of converting the Israeli Shekel to Indian Rupee is immensely easy. Please note that the 1 Israeli Shekel to INR value is subject to change so keep an eye on the Israeli Shekel rate alert. Below, we have mentioned some of the popular ways to convert Israeli Shekels to Rupees.
Internationally-Accepted Card
A multi-currency forex card is counted among the most economical and safest way of carrying the Israeli Shekel.
The BookMyForex Multi-Currency card can be loaded in 14 currencies and features zero forex mark-up.
Online Forex Marketplace
The simplest and most cost-efficient way of converting your Israeli Shekel is using an online forex marketplace such as BookMyForex, a platform by MakeMyTrip, offering the best conversion rates and currency exchange service. The platform offers a 5-minute fully-digital online process for currency exchange.
Visiting Your Bank
The most traditional way of converting the Israeli Shekel to Rupee is by visiting a bank and standing in long queues. It is not only time-consuming but you also end up paying a high cost for making the Israeli Shekel convert to Indian Rupees.
Local Money Changers
You can look for an Authorised Dealer Category II or someone who has a money changers licence. Money exchangers offer competitive Israeli Shekel exchange rates, and you’d not need a bank account in this case. However, the process of rate haggling can be quite frustrating for those who are looking for an easy way to convert Israeli Shekel to INR.
On the other hand,BookMyForex, the online marketplace, offers internationally-accepted forex card and currency notes at the best rates via a convenient online process.
Airport
If you would like to convert the Israeli Shekel in India, one of the costliest ways to do so would be to get the Israeli Shekel exchanged at an airport due to the exorbitantly high ILS exchange rates. Currency exchange at the airport will prove to be 5%-15% costlier than BookMyForex.
Exchange the Israeli Shekel with BookMyForex
BookMyForex, the online forex marketplace by MakeMyTrip, makes it a hassle-free affair for you to convert the ILS to Indian Rupees as well as Indian Rupee to Israeli Shekel. Please note that the 1 Israeli Shekel to INR value is subject to change so keep an eye on the Israeli Shekel rate alert. You should choose MakeMyTrip for currency exchange for the following reasons:
Wide Range of Products
Forex (Currency Notes) - Available in 100+ cities across India, BookMyForex allows you to get your currency notes delivered on the same day or the next day after 100% digital booking.
BookMyForex Multi-Currency - You can load this card in 14 currencies with 0% Forex Mark-up. Once you have booked this card, you can receive it the same day (if booking is made before 1 PM) or the next.
International Travel Insurance - TripMoney also offers international travel insurance at cheapest rates in the market. Also, you can opt for this product if you’d like TripMoney to handle your mandatory travel insurance requirements along with a VISA application.
Travel Loan - With TripMoney, you can avail a travel loan of up to INR 1,00,000 (lifetime limit) for all your travel and holiday needs.
Best Exchange Rates
BookMyForex makes it easy for you to buy Israeli Shekel or sell Israeli Shekel at live and best exchange rates.
Quick Money Transfer
You can also enjoy quick international money transfers on BookMyForex. The 5-minute digital process offers the best forex rates, and you can receive funds abroad within 12 to 48 hours.
Home Delivery
BookMyForex delivers the Israeli Shekels at your doorstep. So, you can simply order and receive your currency from the comfort of your home.
Best Rates to Exchange the Israeli Shekel
You’d need to keep an eye on the current currency rates, if you’d like to know the exact value you’d get on converting 1 Israeli Shekel in Rupees. The exchange rates keep on fluctuating. BookMyForex, an online forex marketplace by MakeMyTrip, keeps you updated with the live currency exchange rates. You can keep up with the changing value of 1 Israeli Shekel in India in real-time on the platform and get the best deal. Currently, 1 ILS is equivalent to 0 INR .
Best Ways to Carry the Israeli Shekel
BookMyForex allows you to convert INR to the Israeli Shekel at the best exchange rates so that you can carry the Israeli Shekels without any hassle. Some of the best ways to carry the Israeli Shekel are mentioned below:
Currency Notes
You can buy the US Dollar notes at live and best exchange rates on BookMyForex so that you can be ready for your trip with sufficient cash in your hand.
BookMyForex Multi-Currency Card - 0% Forex Mark-Up
The Multi-Currency Forex Travel Card available on MakeMyTrip with BookMyForex as the co-branding partner comes with 0% forex mark-up over interbank rates.
How to Buy the Israeli Shekel at Best Rates - Currency Notes and Cards
Whether you want to buy forex cards and currency notes or sell the Israeli Shekel, MakeMyTrip makes the entire process quite easy. It doesn’t matter whether you want to convert the Israeli Shekel to USD, INR to Israeli Shekel or dollar to Israeli shekel, you only need to follow the below-written steps:
- STEP 01
Select your city from the drop-down list.
- STEP 02
Choose the currency you have and the currency you want.
- STEP 03
Opt for a forex card or currency notes from the list.
- STEP 04
Mention the forex amount. The live currency exchange rate will show up next to it.
- STEP 05
The converted currency amount according to the exchange rate will show up automatically.
- STEP 06
Then proceed with booking your order.
Documents Required to Buy or Sell the Israeli Shekel
Here are some important documents mandated by the RBI that you must submit in order to buy or sell the Israeli Shekel in India.
Copies of your valid Indian passport
PAN Card
Confirmed air ticket indicating your plan to travel within 60 days
Valid visa (it may not be required for every country)
Different Purposes for Exchanging the Israeli Shekel
Private Travel: You can avail of up to ILS 10,000 for a private trip to the Israel.
Studying Abroad: You can purchase foreign exchange of up to ILS 30,000 or up to the estimate shared by your educational institute.
Employment Purpose: In case you have a letter of employment, you can buy foreign exchange of up to ILS 5,000.
Emigration: If you have an emigration visa, you can buy foreign exchange for up to ILS 5,000.
Gift and Donation: You can gift or donate up to ILS 5,000 annually on the basis of self-certification
Medical Treatment: On the basis of self-certification, you can buy foreign exchange of up to ILS 50,000 for medical treatments outside of India. Once the limit is surpassed, you have to provide the estimated expense that would be incurred at the hospital.
Buy and Sell the Israeli Shekel Online at Best Exchange Rates
With BookMyForex, the online forex marketplace by MakeMyTrip, you can easily convert your currency. Enjoy unbeatable currency exchange rates and opt for BookMyForex Multi-Currency Cards as well as foreign currency notes. with no forex mark-up. MakeMyTrip also present the real-time value of one Israeli Shekel in Indian Rupees so that you can stay updated with the ever-changing Israeli Shekel value when converting your money to other currencies.
Home Delivery of the Israeli Shekel
In addition to a smooth online process, BookMyForex also delivers the Israeli Shekels right at your doorstep. In fact, you can enjoy same-day door delivery. So, you do not have to waste any time visiting a local money exchanger and picking up your money.
Other currencies to INR Conversion
- USD to INR
- EUR to INR
- AED to INR
- THB to INR
- SGD to INR
- KWD to INR
- CHF to INR
- HKD to INR
- SAR to INR
- CAD to INR
- ZAR to INR
- AUD to INR
- JPY to INR
- GBP to INR
- NZD to INR
- MYR to INR
- VND to INR
- BHD to INR
- IDR to INR
- KRW to INR
- NOK to INR
- DKK to INR
- RUB to INR
- LKR to INR
- PHP to INR
- MUR to INR
- BDT to INR
- PLN to INR
Frequently Asked Questions
How do I get cashback after placing my forex order?
Find out more about the cashback offer on your Israeli Shekel (ILS) purchase by clicking here.
What is the best way to convert ILS to INR?
You can convert ILS to INR using different methods such as visiting a nearby bank or an airport counter. However, both of these methods will prove to be time-consuming as well as costly. There are local money exchangers available but you might need to indulge in negotiations with them. Therefore, MakeMyTrip, powered by BookMyForex, is the perfect way to convert your currency. This online Forex solution offers currency exchange at live rates and delivers currency notes or Forex cards to your doorstep.
What will happen to the leftover Israeli Shekel currency when I return from my trip?
You can easily exchange any leftover currency notes or the money left in your Forex card with MakeMyTrip, powered by BookMyForex, once you have returned from your trip.
Can I invest in the Israeli Shekel?
Yes, you can invest in the Israeli Shekel via mutual funds, ETFs, or ETNs. However, you should keep an eye on market fluctuation and geopolitical concerns.
Will I receive authentic Israeli Shekel notes?
Yes. MakeMyTrip offers genuine notes from RBI-licensed companies only.
Is it legally allowed to hold Israeli Shekel in India?
While it is acceptable to hold the Israeli Shekel up to the amount authorised by RBI, you cannot use this currency for any kind of transaction in India.
What if I run out of the Israeli Shekel currency while travelling?
If you are carrying a MakeMyTrip multi-currency Forex card while travelling, then you can easily load it up and receive the money abroad within 48 hours.