Yisraeli new shekel
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| Yisraeli new shekel | |
|---|---|
| שקל קיסרי | |
| File:Belhavian shekel pic 1.jpg A 2-shekel coin, c. 2018 | |
| ISO 4217 | |
| Code | RYNS |
| Denominations | |
| Subunit | |
| 1/100 | agora |
| Symbol | $ |
| agora | ₪ |
| Banknotes | |
| Freq. used | $1, $2, $5, $10, $20, $50, $100 |
| Rarely used | $250, $1000 |
| Demographics | |
| Date of introduction | 1953 |
| User(s) | Yisrael (primary) Gran Aligonia (secondary) Garza (secondary) |
| Issuance | |
| Central bank | Royal Yisraeli Mint |
| Valuation | |
| Inflation | 4.15% |
| Source | 1st Quarter, 2021, Royal Board of Stocks and Bonds |
The Yisraeli New Shekel (sign: $; code: RYNS), also called the Yisraeli shekel, is the official currency of the Kingdom of Yisrael. It is a widely traded reserve currency in the world since the 1980s. The Yisraeli shekel is issued by the Royal Yisraeli Mint as fiat currency in the form of Yisraeli Bank Notes and Yisraeli Coinage, with a 15% partial peg to precious metals.
History
The Yisraeli shekel has its origins in the ancient shekel of biblical times. When a united Jewish state re-emerged with the Grand Duchy of Yisrael and later the current Kingdom of Yisrael, the shekel as the basic form of currency was resurrected.
The coinage was largely confined to Yisrael proper and allies like Talakh and Ghant who had expansive trade ties, as well as limited use in border areas in Sydalon and Ascalzar.
The currency took off in the 1890s, after the 1889 amendments to the 1852 Royal Banking Act opened up the Royal Bank of Yisrael to foreign investors, receiving millions in deposits from foreign governments, companies, and individuals, in countries as diverse as Arthurista, Ghant, Garima, Garza, and Vardana. It became a common reserve currency in the 1900s and 1910s as the Belisarian monarchies often took loans from the Royal Bank or other Yisraeli banks to fund their military and industrial projects.
The shekel dipped during the Second West Scipian War in the mid-1910s, but recovered in the late 1920s and 1930s. The currency was thrown into massive deflation and destabilized during Phase I & II of the Third West Scipian War of the 1940s and through the nationalizations and currency controls of the Autocracy regime. The shekel finally recovered after monetary policy reforms in the early 1950s after the Royal Reform Acts.
Despite a dip during the Fourth West Scipian War in the mid-1960s, the Yisraeli shekel has been on a growth boom, in terms of usage and circulation, and the stability of its worth compared to other currencies. Today, the shekel is a popular-traded and used global reserve currency.