The State of Israel's currency is the New Israel Shekel (NIS) or shekel for short (pluralized as shkalim in Hebrew or shekels in English). There are 100 agorot (agora in singular) in each shekel. Bank notes are in denominations of NIS 20, 50, 100, and 200; coins are in denominations of NIS10, NIS5,NIS2, NIS1,50 and 10 agorot.
A limited sum of 80,000 NIS (about - 20,000US$) of local and foreign money may be brought into or taken out from Israel as cash and travelers checks without declaration at the customs. If larger sums are brought or taken out then passing through the customs is obligatory.
The following foreign currencies may be exchanged at the airport, banks, post offices, most hotels or licensed exchange agencies in large cities: Euro; Australian Dollar; US Dollar; Hong Kong Dollar; New Zealand Dollar; Singapore Dollar; Canadian Dollar; Japanese Yen; Danish Krone; Norwegian Krone; Swedish Krona; Pound Sterling; Swiss Franc; South African Rand.
A passport is required when exchanging travelers checks. The rates vary from place to place, and banks charge a commission. For updated exchange rates, please consult bank of Israel site (www.bankisrael.gov.il/firsteng.htm).
Shekels can be converted back to foreign currency at Ben Gurion Airport bank branches. The maximum amount aloud to change back without bank receipt is US $500 or its equivalent in other currencies. Any higher amount in shekels acquired during a single visit to Israel (up to a maximum of US $5,000) can be reconverted only with bank receipts proving the conversion of foreign currencies.
Banks Various banks have branches in the large cities and in smaller communities. Most banks are open from 8:30am until 12 noon Sunday to Thursday, and 4-6pm on Sunday, Tuesday and Thursday. On Fridays and Jewish holiday eves, banks are open from 8:30am until 12 noon. All banks are closed on Shabbat. Most of the large hotels have banks which often offer additional, more convenient hours.
Tourists may open local currency accounts or special non-resident and foreign resident accounts at any bank. Cash Withdrawal
Holders of international credit cards can withdraw local or foreign currency at bank branchesaccepting international credit cards. There are Automated Teller Machines (A.T.M) outside most bank branches all over the country.
e State of Israel's currency is the New Israel Shekel (NIS) or shekel for short (pluralized as shkalim in Hebrew or shekels in English). There are 100 agorot (agora in singular) in each shekel. Bank notes are in denominations of NIS 20, 50, 100, and 200; coins are in denominations of NIS10, NIS5,NIS2, NIS1,50 and 10 agorot.
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