Israeli New Sheqel

(redirected from New Israeli Sheqel)

Israeli New Sheqel

The currency of Israel. It replaced the old sheqel in 1985 due to the former currency's high rate of inflation. The new sheqel is a floating currency, and because it is traded on the Merc, it is one of the few currencies for which futures and other derivative contracts are widely available. The new sheqel is a hard currency, indicating consumer confidence on the foreign exchange markets. See also: Currency pair.
References in periodicals archive ?
By: MENA GAZA CITY -- 26 October 2017: Israeli Prime Minister Benjamin Netanyahu pledged Wednesday to earmark New Israeli Sheqel (NIS) 800 million in the upcoming budget for bolstering security provisions in the West Bank during a meeting with heads of settler movements, Ynet reported Wednesday.