Israeli shekel currency symbol, and formerly known as the New Israeli Sheqel (NIS), is the currency of Israel and is also used as a legal tender in the Palestinian territories of the West Bank and the Gaza Strip. The new shekel is divided into 100 agora. The origin of the name "shekel" (שקל) is from the ancient biblical Israeli currency by the same name. Shekel is any of several ancient units of weight or of currency in ancient Israel. Initially, it may have referred to a weight of barley.