Israeli agora: Difference between revisions

The agora (אגורה, plural agorot) is a denomination of the currency of Israel. The Israeli currency - the New Israeli sheqel (NIS) is divided into 100 agorot.

The name Agora actually refers to three kinds of currencies that were used in Israel throughout its history, all of them have been subdivisions of the main currency units.

This name was used for the first time in 1960, when the Israeli government decided to change the subdivision of the Israeli Pound from 1000 Prutot to 100 Agorot. The name was suggested by the Academy of the Hebrew Language, and was borrowed from the Hebrew Bible, I Samuel 2:36 ...every one that is left in thine house shall come and crouch to him for a piece of silver... (the term "piece of silver" appears in Hebrew as "agorat kessef").

In 1980 the Israeli Pound was abolished and replaced by the Sheqel at a rate of 10 IP per 1 Sheqel. The new subdivision of the Sheqel was named Agora Ħadasha ("New Agora"). There were 100 New Agorot in 1 Sheqel. The high rate of inflation in Israel in the early 1980ies forced the Israeli government to change the Israeli currency once again in 1985. The New Sheqel was introduced at a rate of 1000 S per 1 NS. The name Agora was used once again for its subdivision. This time the term "new" was avoided, in order to prevent confusion with the older subdivision (the pre-1980 Agora was out of circulation long time before).

Currently, the term Agora refer to the 100th part of the New Sheqel. There are coins of 5, 10 and 50 Agorot, though the 50 Agorot coin bears the inscription: "1/2 New Sheqel".

10 Agorot controversy