The Israeli pound (Hebrew: Israeli lira) was the currency of the State of Israel from June 1952 until 23 February 1980. The British Mandate of Palestine, which administered the territory now known as Israel prior to 1948, issued the Palestine pound- a currency equal in value and pegged to the UK Pound. Israel inherited the Palestine pound but, shortly after the establishment of the state, new banknotes were issued by the London-based Anglo-Palestine bank of the Zionist movement. The pegging to the UK Pound was abolished on January 1, 1954. During the 1960s, a debate over the non-Hebrew name of the Israeli currency resulted in a law ordering the Minister of Finance to change the name pound into a Hebrew name, Shekel (שקל). The law did not come into effect until February 1980, when the Israeli government decided to change the monetary system and introduce the shekel at a rate of 1 shekel = 10 lirot. PLEASE NOTE: actual banknotes color may vary slightly from picture due to computer screen settings. Please accept slight differences from the image since we have more than one of this item in stock. The banknote you will get will be in the same or better condition, but its serial number may be different.
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