---

• n  the basic unit of money in Israel

• The result: a 23% devaluation of the shekel and a sharp cut in food subsidies, meaning an average price increase of 50% on basic items like bread, milk and meat.
• One digit was knocked off the currency so that 10 became one shekel.
• Historians have not definitively established a shekel's worth, but certainly the total earnings were great.

News & Articles

---

• Fischer Says U.S. Housing May Be Due for Decline
  June 13 (Bloomberg) -- Bank of Israel Governor Stanley Fischer discusses the U.S. economy, Federal Reserve and Bank of Japan monetary policy, and the shekel. He talks with Francine Lacqua and Elliott Gotkine on Bloomberg Television's "The Pulse."
  June 13, 2013 - Bloomberg