SHEQEL Meaning and
Definition
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Sheqel, also spelled shekel, is a unit of currency primarily used in Israel. It is the official currency of the country and has been in circulation since 1986. The word "sheqel" is derived from the Hebrew language, where it means "weight" or "balance." This etymology reflects the historical use of sheqel as a unit of weight in ancient times.
The sheqel is subdivided into 100 smaller units called agorot. Coins are denominated in agorot, while banknotes are issued in larger sheqel denominations. The currency symbol for the sheqel is ₪, which is the Hebrew letter "mem" with two lines. It is used internationally to represent the Israeli currency.
Being the official legal tender in Israel, the sheqel is widely accepted throughout the country in both cash and digital forms. Its value fluctuates against other major currencies such as the US dollar, euro, and British pound, as it is subject to exchange rate dynamics.
The sheqel is used for various financial transactions, including buying goods and services, paying bills, and conducting business transactions within the country. It is also accepted in some international locations due to its adoptability among certain organizations and businesses.
Overall, the sheqel is the main currency of Israel and plays a vital role in its economy, facilitating trade, commerce, and daily financial transactions.
Common Misspellings for SHEQEL
Etymology of SHEQEL
The word "sheqel" originates from the Hebrew language. It is derived from the Hebrew verb "shaqal", which means "to weigh". In ancient times, the sheqel was a unit of weight used for measuring various commodities. Over time, it transitioned into a unit of currency within the Hebrew system. Today, the sheqel is the official currency of Israel.
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