Israeli Shekel in Nigerian Naira

ILS Israeli Shekel

Country of application:
Israel

Coin denominations in circulation:
10 ago, 0.5, 1, 2, 5, 10 Israeli shekel.

Denominations of banknotes in circulation:
20, 50, 100, 200 Israeli shekel.

History reference:
The national currency of Israel is the New Israeli Shekel (ILS). It is called new because in 1985 it replaced the old currency of the same name. How the shekels appeared and what they meant is eviden...ced by various historical sources. The Semitic word "shekel" has a root that has been preserved in modern Hebrew - "only", it means "to weigh". This fact indicates the ancient purpose of the shekel, known even before our era. In a number of Middle Eastern countries, it served as a measure of weight in transactions. In Canaan and Mesopotamia, the shekel was used as the standard for weighing gold and silver and was originally a unit of weight of about 11 grams. The shekel became the currency in Tire and Carthage. Then shekels became the main monetary unit in Ancient Israel and were fixed there as a national currency.

NGN Nigerian Naira

Country of application:
Nigeria

Coin denominations in circulation:
50 kobo, 1, 2.

Denominations of banknotes in circulation:
5, 10, 20, 50, 100, 200, 500, 1000 naira.

History reference:
The Nigerian Naira is the currency of Nigeria, the name of the currency comes from the name of the state and the river. The naira was put into circulation on January 1, 1973 instead of the Nigerian p...ound, 1 pound = 2 naira. Thus, Nigeria became the last African state to abandon the duodecimal monetary system. Rampant inflation has occurred in Nigeria. The Central Bank of Nigeria said they were trying to keep the annual inflation rate below 10%. In 2011, CBN increased its key interest rate 6 times from 6.25% to 12%. On January 31, 2012, CBN decided to keep its key interest rate at 12% to reduce the impact of inflation due to cuts in fuel subsidies. On October 25, 2021, eNaira, an electronic analogue of the national currency, was launched in Nigeria. eNaira is not a cryptocurrency, all transactions are controlled by financial government agencies.