ISRAEL

(ILS) Currency News >>

CURRENCY:

New Shekel - ILS

DENOMINATIONS:

NOTE: 200, 100, 50, and 20.

COIN: 100, 50, 10, 5 and 1, and 50 and 10 agorot.

US DOLLAR ACCEPTED?

Check in advance - some foreign currencies will be accepted.

CREDIT/DEBIT CARDS AND ATMS:

All major credit cards enjoy acceptance in Israel, and ATMs are also available on a wide basis.

CURRENCY EXCHANGE:

Can be conducted in banks, bureaux de change and hotels - make sure they are authorised. Note: change shops found in cities will not charge commission and the rates will be the same as the banks. Tip: some shopkeepers prefer the use of foreign currency by tourists, and it may exempt from VAT.

TRAVELLER'S CHEQUES:

Best in US dollars and are widely accepted.

BANKING HOURS:

Sun-Fri 0830-1200 Sun, Tues, Thurs 1600-1800.

CURRENCY RESTRICTIONS:

N/A

COUNTRY OVERVIEW:

The State of Israel is a country in the Middle East. After World War II, the League of Nations created a 'national home for the Jewish people' and divided the state of Palestine into two states - one half to be Arab, the other Jewish. After Israel declared their independence, a war broke out between the two nations as surrounding Arabs were unhappy with the plan. This dispute has raged ever since and peace has so far not reigned between Israelis and Palestinians. The capital is Jerusalem and the official languages are Hebrew and Arabic.

POPULATION:

Around 7 million.

ECONOMY:

Israel has an advanced economy and where development is is concerned, it ranks high amongst countries in Southwest Asia. The industrial and agricultural sectors have been highly developed, which means that despite being low on natural resources, the country is mainly self-sufficient for food production. The main exports are pharmaceuticals, software, fruits and vegetables, and diamonds. There is a large amount of religious tourism to Israel which also contributes to the economy.