SHEKELS Meaning and
Definition
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Shekels refer to the currency of Israel, and the literal definition of the term can be quite broad. Specifically, shekels are the basic monetary unit in the Israeli currency system, officially known as the Israeli new shekel (NIS). The term "shekels" is both singular and plural and is derived from the ancient Hebrew unit of weight, which was also called a shekel.
Historically, the shekel was a unit of weight used for measuring the value of goods and precious metals, particularly silver. However, in modern times, the shekel solely represents the Israeli currency. Each shekel is subdivided into 100 agorot (singular: agora), which are smaller units used for fractional prices.
As of its creation in 1985, the Israeli new shekel became the official currency of Israel, replacing the old Israeli shekel. The country's monetary authority, the Bank of Israel, controls the issuance and regulation of shekels. The currency is commonly used for economic transactions within Israel and the Palestinian territories, although the situation can be more complex in areas such as the West Bank and Gaza Strip.
In summary, shekels are the official currency of Israel, subdivided into 100 agorot, and regulated by the Bank of Israel. The term "shekels" can refer to both the physical currency and the monetary value it represents.
Common Misspellings for SHEKELS
Etymology of SHEKELS
The word "shekels" originates from the Hebrew language. It comes from the Hebrew word "sheqel" (שֶׁקֶל), which means "weight" or "unit of weight". In ancient times, the shekel was a unit of weight used for measuring precious metals, primarily silver. Eventually, the shekel became a unit of currency in various ancient Near Eastern cultures, including Israel. Today, the Israeli currency is still called the shekel. The term "shekels" is commonly used to refer to money or currency in general.
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