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Israel May Issue 100,000 Shekel Note to Keep Peace with Inflation

The Bank of Israel may print a 100,000 Shekel note because the planned 50,000 Shekel note cannot keep pace with the current rate of inflation, the Jerusalem Post reported today.

The paper said a bank official went to Holland recently, where Israel’s currency is printed, to try to speed up the production of 5-10,000 Shekel notes. The highest denomination presently in circulation is the 1,000 Shekel note which is roughly equivalent to $4.00 at the official rate of exchange.