The official currency of Israel is called “shekel”, and if more officially – “new shekel”. The part of shekel is called “agora” or “agorot” (in plural).
The Israeli currency consists of coins – 10, 50 agorot. And also – 1, 2, 5 and 10 shekels. The Israeli notes – 20, 50, 100 and 200 shekels.
The official exchange rate against major currencies is set every day by the central bank. But in recent years, one dollar is worth a little less than 4 shekels. A one euro – a little less than 5 (but, of course, in today’s world can change very quickly.)
In all major cities there are dozens of private exchange points. Also, they are in smaller cities and towns. They are more convenient and profitable to change the currency on the shekel, and vice versa.
As a rule, they don’t take the commission (it is necessary to ask in advance) and they have the most favorable rate. When exchanging large amounts it is possible to bargain.
Currency exchange can be also made in all the post offices. Exchange takes no commission, but the course is lower. For large amounts they also have discounts. Also – in banks, but banks usually charge a commission, reaching 10.5% of the total. Is not beneficial to change currency at the airport, they have high commission rate.
In Israel, except hotels, everywhere it is accepted to pay only in shekels, and also by credit cards. In Israel it is possible to pay in the international credit cards practically everywhere: from small shops and cafe, to shopping centers and restaurants. There is no need for special cards, chips, etc. –usual international credit card is ok.