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The new Israeli shekel, also known as simply the Israeli shekel, is the currency of Israel and is also used as a legal tender in the Palestinian territories of the West Bank and the Gaza Strip. The new shekel is divided into 100 agorot. The new shekel has been in use since 1 January 1986, when it replaced the hyperinflated old shekel at a ratio of 1000:1.
The currency sign for the new shekel ⟨ ₪ ⟩ is a combination of the first Hebrew letters of the words shekel and ẖadash. When the shekel sign is unavailable the abbreviation NIS is used. Wikipedia