The Bank of Israel is planning to replace the present one Shekel bills, worth about 13 cents today, with metal coins within the coming three months. Five-Shekel coins (66 cents) will be introduced by the end of the year and 10-Shekel coins at a later date.
At the present rate of inflation (130 percent during 1980) the new coins will be worth less than half their present foreign exchange value when introduced. The bank explained that metal coin-age costs less than half as much to produce as a paper note and has a life expectancy of years instead of a maximum of one year for a paper note.
Help ensure Jewish news remains accessible to all. Your donation to the Jewish Telegraphic Agency powers the trusted journalism that has connected Jewish communities worldwide for more than 100 years. With your help, JTA can continue to deliver vital news and insights. Donate today.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
