Agora (currency unit)
The Agora (Hebrew: אגורה, plural Agorot , אגורות) is the sub-unit of the currency of Israel , the New Israeli Shekel . 100 agorot make one shekel. Previously, the Israeli pound (1960 to 1980) and the old shekel (1980 to 1985) were divided into 100 agorot.
The currency name was introduced in 1960 when the Israeli pound was split into 100 agorot instead of 1000 pruta . The name was suggested by the Academy for the Hebrew Language and comes from the Bible , ( 1 Sam 2.36 EU ), where it is used to refer to a piece of silver.
In 1980 the shekel replaced the Israeli pound at a ratio of 10 pounds = 1 shekel. The new subunit was called "New Agora" (internationally also New Agorot ) to distinguish it from the old one. The Israeli currency was reformed again in 1985. The New Israeli Shekel replaced the old one at a ratio of 1: 1000. The name Agora was retained, but the addition “new” was omitted to avoid confusion with the previous subunit.
Coins of 10 and 50 Agorot are currently in circulation, although the 50 Agorot coin bears the inscription "½ New Shekel".
A 1 agora coin was in use until April 1, 1991, and a 5 agorot coin circulated until December 31, 2007. Today, cash prices are rounded to the nearest multiple of 10 agorots.