Editing Israeli pound (section)

{{Short description|Currency of Israel between 1952 and 1980}}
{{Infobox currency
| name = Israeli pound
| local_name = לירה ישראלית
| local_name_lang = he
| local_name2 = جنيه إسرائيلي
| local_name_lang2 = ar
| local_name3 = Livre israélienne
| local_name_lang3 = fr
| image_1 = Israel 500Lirot 1975 Obverse & Reverse.jpg
| image_title_1 = IL&nbsp;500 note (obverse and reverse) issued in 1975
| iso_code = ILP
| issuing_authority = [[Bank Leumi]] (1952–1955)<br/>[[Bank of Israel]] (1955–1980)
| date_of_introduction = 9 June 1952
| using_countries = {{ISR}} (1952–1980)
| inflation_title = 
| inflation_rate = 
| inflation_source_date = 
| inflation_method = 
| pegged_with = £1&nbsp;[[Pound sterling|stg]] at par (1952–1954)
| subunit_ratio_1 = {{frac|1|1000}}
| subunit_ratio_2 = {{frac|1|100}}
| subunit_name_1 = [[Mill (currency)#Mandatory Palestine, Israel, Jordan|mil]] (1951–1952)<br/> [[Israeli pruta|pruta]] (1952–1960)
| subunit_name_2 = [[Israeli agora|agora]] (1960–1980)
| symbol = {{Script/Hebrew|ל"י}}
| symbol_comment = (Hebrew), IL (Latin)
| plural = pounds ({{Script/Hebrew|לירות}} ''lirot'')
| plural_subunit_1 = prutot ({{Script/Hebrew|פרוטות}})
| plural_subunit_2 = agorot ({{Script/Hebrew|אגורות}})
| used_coins = 1, 5, 10, 25 agorot, IL&nbsp;{{1/2}}, IL&nbsp;1, IL&nbsp;5
| used_banknotes = IL&nbsp;5, IL&nbsp;10, IL&nbsp;50, IL&nbsp;100, IL&nbsp;500
| obsolete = yes
| footnotes = 
| date_of_withdrawal = 23 February 1980
| replaced_by_currency = [[Old Israeli shekel|First shekel]]
}}[[File:Israeli Passbook 1952-1953.jpg|thumb|A [[passbook]] issued before the official adoption of [[Israeli pruta|prutot]], and denominated in pounds and [[Mill (currency)#Mandatory Palestine, Israel, Jordan|mils]]]]

The '''pound''' or '''lira''' ({{langx|he|לירה ישראלית}} ''Lira Yisra'elit'', {{langx|ar|جنيه إسرائيلي}} ''Junayh ʾIsrāʾīlī''; abbreviation: '''IL'''<ref>{{cite web | url=https://main.knesset.gov.il/EN/about/history/documents/kns2_bank_eng.pdf  | title=Bank of Israel Law, 5714–1954* | date=3 September 1954 }}</ref> in [[Latin alphabet|Latin]], '''ל"י''' in [[Hebrew script|Hebrew]]; code {{ISO 4217|ILP}}) was the [[currency]] of the [[Israel|State of Israel]] from 9 June 1952 until 23 February 1980. The Israeli pound replaced the [[Palestine pound]] and was initially pegged at par to £1&nbsp;[[pound sterling|sterling]]. It was replaced by the [[Old Israeli shekel|shekel]] on 24 February 1980, at the rate of IS&nbsp;1 = IL&nbsp;10, which was in turn replaced by the [[Israeli new shekel|new shekel]] in 1985.

Before the new currency was brought in, the [[Anglo-Palestine Bank]] issued banknotes denominated in Palestine pounds. They were in Hebrew {{Script/Hebrew|לירה א״י}} (''lira E.Y.'' i.e. ''lira [[Eretz-Yisrael]]it'') and [[Arabic language|Arabic]] ''junayh filisṭīnī'' ({{lang|ar|جنيه فلسطيني}}).<ref>{{citation|publisher=Bank of Israel |place=IL |title=One Palestine Pound |url=http://www.bankisrael.gov.il/catal/eng/bill_all_eng.htm?series_num=1&series_name=Anglo%20Palestine%20Bank%20Series&pg_name=p002&pg_kot=ONE%20PALESTINE%20POUND |url-status=dead |archiveurl=https://web.archive.org/web/20060427085208/http://www.bankisrael.gov.il/catal/eng/bill_all_eng.htm?series_num=1&series_name=Anglo%20Palestine%20Bank%20Series&pg_name=p002&pg_kot=ONE%20PALESTINE%20POUND |archivedate=April 27, 2006 }}</ref>

On 1 May 1951, all the assets and liabilities of the Anglo Palestine Bank were transferred to a new company called [[Bank Leumi]] Le-Yisrael (Israel National Bank) and the currency name became: ''lira yisraelit'' ({{Script/Hebrew|לירה ישראלית}}) in Hebrew, ''junayh ʾisrāʾīlī'' in Arabic, and Israeli pound in English.<ref>{{citation|publisher=Bank of Israel |place=IL |title=One Israeli Pound |url=http://www.bankisrael.gov.il/catal/eng/bill_all_eng.htm?series_num=2&series_name=Bank%20Leumi%20Le-Israel%20Series&pg_name=p007&pg_kot=ONE%20ISRAELI%20POUND |archive-url=https://web.archive.org/web/20070927000546/http://www.bankisrael.gov.il/catal/eng/bill_all_eng.htm?series_num=2&series_name=Bank%20Leumi%20Le-Israel%20Series&pg_name=p007&pg_kot=ONE%20ISRAELI%20POUND |url-status=dead |archive-date=2007-09-27 }}</ref> The new currency was issued in 1952, and entered circulation on June 9. From 1955, after the [[Bank of Israel]] was established and took over the duty of issuing [[banknote]]s, only the Hebrew name was used.<ref>{{citation|publisher=Bank Le-Israel |place=IL |title=First Series of the Pound |url=http://www.bankisrael.gov.il/catal/eng/bill_all_eng.htm?series_num=4&series_name=First%20Series%20of%20the%20Pound&pg_name=p012&pg_kot=ONE%20ISRAELI%20POUND |archive-url=https://web.archive.org/web/20070927002117/http://www.bankisrael.gov.il/catal/eng/bill_all_eng.htm?series_num=4&series_name=First%20Series%20of%20the%20Pound&pg_name=p012&pg_kot=ONE%20ISRAELI%20POUND |url-status=dead |archive-date=2007-09-27 }}</ref>