Why is it necessary to exchange the banknotes?
Replacing banknotes every few years is a common practice in developed countries, mainly due to the obsolescence of the security features on the banknotes and concerns about counterfeiting. The current series of Israeli banknotes was put into circulation about 15 years ago, and in light of this, the Bank of Israel is issuing new banknotes that feature advanced standards of security, innovation, and accessibility.
Will I be able to continue using the money banknotes I have (Series B banknotes of the new shekel) after the new banknotes are issued?
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Even after the issuance of banknotes from the new series, it will be possible to continue using banknotes from the current series for an extended transition period of several years, during which it will be possible to replace the banknotes in the hands of the public.
How can I exchange the banknotes I have for banknotes from the new series?
The process of exchanging the banknotes will take several years, so there is no reason to panic. In general, the banknotes can be exchanged at commercial bank branches, at the postal bank, and at the public treasury of the Bank of Israel in Jerusalem.
Will there be changes in the scale of values of the banknotes, their par values, and their value?
Absolutely not. The new series of banknotes will be issued in the same four denominations as the current series: 20 shekels, 50 shekels, 100 shekels, and 200 shekels. When exchanging banknotes from the current series as mentioned, new banknotes of the same value will be issued in exchange.
Where can I learn about the new banknotes and the public security features incorporated into them?
• In the variety of publications in the media.
• On the Bank of Israel website, under the tab: "Security features on the banknotes.".
• In an application that can be downloaded to common smartphone and tablet devices.
• By contacting the Currency Department at the Bank of Israel.
• At the call center number 1-800-300-018.
Are the new banknotes more accessible to the visually impaired?
Yes. Due to the importance of the issue, the Bank of Israel has worked to increase the accessibility of banknotes, including:
• The new banknotes differ in length, with a difference of 7 mm between denominations.
• The banknotes bear unique identification marks for each denomination, which are printed on the edges of the banknote in particularly prominent ink, and can be touched.
• The face value appears on the banknotes several times and in different contrast (dark on a light background and light on a dark background).
• The letter height of the denomination printed on the banknote is exceptionally large (approximately 20 mm), both compared to the previous series and compared to banknotes in other countries.
• Each bill has one ruling and dominant color.
• The colors of banknotes are divided into "warm" and "cold" colors.
• In addition to the above markings, the red and green banknotes bear different numerals in their shape (20 shekels and 50 shekels) and the banknotes bearing identical numerals (20 shekels and 200 shekels) differ as much as possible in their color (red and blue) and length (129 mm compared to 150 mm).
What material will the banknotes be made of?
All banknotes in the new series will be made of an upgraded cotton substrate, which is expected to extend their lifespan and durability under circulation conditions.
Why is the color of the new 50 shekel bill also green?
• The choice of the colors of the new banknotes was made based on a range of professional considerations, an examination of the approaches accepted worldwide, and after consultation with experts in the field from Israel and around the world.
• When choosing the colors of the banknotes, it is required to use the basic colors: blue, green and red (RGB), which are most distinguishable from each other, under different lighting conditions and over time in circulation. In addition, when choosing the colors of the banknotes, additional considerations were also considered regarding combating and preventing counterfeiting.
• In countries such as Israel, where the validity of the replaced banknotes is limited in time (such as the Series B of the new shekel that is currently being replaced), it is preferable to change the colors of the old banknotes in order to prevent confusion, fraud, and loss of value after the expiration of these banknotes. Consequently, the new 20 shekel note differs in color from the old 20 shekel note, the new 50 shekel note differs in color from the old 50 shekel note, and so on.
How can you distinguish between the new 50 shekel note and the old 20 shekel note?
The new banknote differs substantially from the old banknote, both in terms of the design of the banknote, the security features incorporated into it, and the feel of the banknote paper, in particular:
• The green color of the new 50 shekel bill is different from the green color of the existing 20 shekel bill.
• The banknotes of the new series, including the portrait of the character on the banknote, are designed and printed horizontally (landscape), unlike the banknotes of the current series, which are designed and printed vertically (portrait).
• The security features on the new banknotes have been updated and replaced with advanced and more prominent features, compared to the current series of banknotes. These security features provide easy distinction between the new and old banknotes.
Which personalities appear on the new banknotes?
• The new series of banknotes features the figures of prominent figures in the fields of poetry and literature, whose life stories, work, and deeds are intertwined with the story of the national revival of the State of Israel. This is in order to pass on to future generations the work, work, and contributions of these figures to Israeli culture.
• The 20 shekel bill features the image of the poet Rachel, the 50 shekel bill features the image of Shaul Tchernichovsky, the 100 shekel bill features the image of Leah Goldberg, and the 200 shekel bill features the image of Natan Alterman.
• The order of appearance of the figures on the banknotes is determined chronologically according to the date of death, from the earliest (poet Rachel) to the latest (Natan Alterman).
How were the personalities appearing on the new banknotes determined?
In selecting the figures on the new banknotes, the Governor of the Bank of Israel consulted with a public committee, the Committee for Planning Banknotes, Coins and Commemorative Coins, headed by retired Supreme Court Justice Yaakov Turkel. The figures ultimately selected were approved by the Bank of Israel's Administrative Council and by the government.
How was the design of the new banknotes chosen?
• The design of the new banknotes was selected, for the first time in the history of the Bank of Israel, through a public design competition, which was conducted anonymously, and in which over 80 artists and graphic designers from Israel participated.
• In selecting the design, the Governor was assisted by a professional selection committee that included top-notch graphic designers in Israel, and by the public committee for designing banknotes, coins and commemorative coins, headed by retired Supreme Court judge, Justice Yaakov Turkel.
• The selected design was approved by the Bank of Israel's Administrative Council and by the government.
• The new banknotes were designed by designer Osnat Eshel.
Is the cost of producing the new banknotes higher than that of the existing banknotes?
Yes. The cost of producing the new banknotes is slightly higher, due to the incorporation of advanced security features and the improvement in the banknote substrate. On the other hand, the improvement in the banknote substrate is expected to result in savings in issuance costs, as a result of the extension of the life of the new banknotes in circulation.
When will the new 50 shekel bill be issued for circulation?
September 16, 2014.
When will the rest of the new banknotes enter circulation?
The process of replacing the banknotes will take several years and will be done gradually. Over the next few years, all current denominations of banknotes (from Series B of the new shekel) will be replaced with new banknotes (from Series C of the new shekel). The next banknote to be replaced will be the 200 NIS banknote and its color will be blue.
