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The Shekel
What if all the money you had today would not be worth anything tomorrow? That’s what happened in Israel on September 4, 1985.
Before September 4, 1985, Israel’s currency was the Shekel. In the late 1970s and early 1980s, Israel experienced accelerating inflation. Imagine paying $5.00 for a candy bar and not 50 cents!
Israel took a few measures to stop the rise of inflation, one of which was replacing ALL the money. The old shekel was replaced with the New Israel Shekel (NIS). To calculate the difference, three zeros were dropped from the old shekel denominations (so 2000 old shekel would be replaced with 2 NIS).
The plan was very successful and many people say the new monies are much nicer looking too!
F.Y.I. The Hebrew word for "money" is "kesef".
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The Six Day War
Israel's War of Independence
The Shekel
Israel's First Elections
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