The shekel is the official currency of Israel and is abbreviated as ILS. It is subdivided into 100 agorot. The shekel has a rich history, originally being a unit of weight used in ancient Mesopotamia and Canaan, where it represented a specific amount of silver. In modern times, the shekel was reintroduced in 1985, replacing the old shekel due to hyperinflation. The currency features various denominations, including coins and banknotes, with images that reflect Israeli culture and history. The shekel is widely used in everyday transactions throughout Israel.