Agorot as Israel’s national monetary unit

In 1980, the sheqel replaced the Israeli lira was abolished.
This monetary unit is called agora hadasha or new agora in which 1 sheqel is equal to 100 new Agorot. Because of the high inflation rate, the government of Israel was forced to change its currency once again in the year of 1985.

The Agora coin has been circulating until April 1, 1991. Then, it has been stopped when the Bank of Israel decided to take it out due to the high cost of coin production. When paying cash, the amount of all the stuffs in any shop has to be rounded off to the nearest multiple of 5 Agorot. However, there is no rounding off when a person pays by using cheques, credit cards or bank orders.

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