Israel to Get ‘New Shekel’
United Press International
JERUSALEM — The Israeli Cabinet decided Sunday to introduce a “new shekel” to replace the embattled old shekel that has been eroded by inflation to one-15th of a penny.
The shekel, to be introduced Sept. 4, was fixed at 1.5 to the dollar and will be worth about 66 cents--1,000 times more than the old shekel.
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