SHEKEL

Name of Israeli currency.

The word shekel derives from biblical times, when coins were called shekels. Shekel was the term used by leaders of the Zionist movement to denote the price of membership. For the purpose of designating this cost of membership, attendees at the First Zionist Congress pegged the shekel to a fixed rate of certain major Western currencies.

Until 1970, the Israeli currency was called the lira or pound. In 1984, following a steep devaluation, the name of the currency was changed to the new Israeli shekel (NIS).

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shekel In OT times the shekel was a unit of weight—about 2/5 of an ounce or 14.5 grams of silver. In NT times it was a silver coin of the same weight.

shekel Semitic unit of weight, chief silver coin of the Hebrews. XVI. — Heb. šeḳel, f. šāḵal weigh.

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