Agorot

Agorot are the subunits of the Israeli currency, the new Israeli shekel (NIS). One shekel is equal to 100 agorot, and prices are often quoted to the nearest agorot in everyday transactions. The term agorot is the plural of agora in Hebrew and is used widely in commerce, accounting, and financial reporting in Israel.

History and status: The modern system of agorot was introduced with the new Israeli shekel reform in the mid-1980s, which stabilized the currency after a period of high inflation. Since then, agorot have served as the decimal subdivision of the shekel, allowing for fractional pricing and payments alongside whole-shekel amounts.

Coins and use: Agorot are minted as coins and circulate in several denominations. The smallest widely circulating coin is typically 5 agorot, with other common agorot denominations curved to align with pricing in the market. Higher-value transactions and banknotes are denominated in shekels, while agorot handle the fractional component of amounts.

Economy and practice: In everyday life, shoppers and businesses quote and handle amounts in both shekels and agorot, for example “X shekels and Y agorot.” While the use of very small coins has varied with inflation and minting practices over time, the 100 agorot per 1 shekel framework remains the standard.

See also: New Israeli shekel, Israeli currency, Coins of Israel, Banknotes of Israel.