Israel’s currency is the New Israel Shekel (NIS) or shekel for short (pluralized as shkalim in Hebrew or shekels in English). There are 100 agorot (agora in singular) in each shekel. Bank notes are in values of 20, 50, 100, and 200 NIS; coins are in values of 10, 5, 2 & 1 NIS and

you have 50 and 10 agorot.

 

Exchange Services

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Unlimited sums of local and foreign money may be brought into Israel as cash, credit cards or State of Israel bonds. Foreign currency of all kinds may be exchanged at the airport, banks, post offices, most hotels or licensed exchange agencies in large cities. A passport is required when exchanging currencies. The rates vary from place to place, and banks charge a commission. More Information is available here.

Cash Withdrawals

Holders of international credit cards can withdraw local or foreign currency at banks which accept their credit cards. There are ATM Machines outside most banks.

 

Value-added tax refunds

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Eilat is a VAT-free zone, but if you visit other places in Israel, foreign tourists may request VAT refunds on purchases made during their visits. Be sure to keep your receipts.