History
In 1980 the shekel replaced the lira at a rate of 1 shekel = 10 lira. After suffering from high inflation, the shekel was replaced by the new shekel in a process started in September 1985 at a rate of 1 new shekel = 1000 old shekalim.
Read more about this topic: Old Israeli Shekel
Famous quotes containing the word history:
“The history of work has been, in part, the history of the worker’s body. Production depended on what the body could accomplish with strength and skill. Techniques that improve output have been driven by a general desire to decrease the pain of labor as well as by employers’ intentions to escape dependency upon that knowledge which only the sentient laboring body could provide.”
—Shoshana Zuboff (b. 1951)
“No cause is left but the most ancient of all, the one, in fact, that from the beginning of our history has determined the very existence of politics, the cause of freedom versus tyranny.”
—Hannah Arendt (1906–1975)
“The whole history of civilisation is strewn with creeds and institutions which were invaluable at first, and deadly afterwards.”
—Walter Bagehot (1826–1877)