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The shekel was originally an ancient Babylonian unit of weight, later adopted by the Hebrews. It was used as a standard for both weight and value, and also as a coin. The shekel was a subdivision of the mina and talent in Hebrew systems. Today, the shekel is the basic monetary unit of Israel, divided into 100 agorot. The current New Israeli Shekel (NIS) was established in 1985, replacing the old shekel at a rate of 1,000 to 1.1234

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