Israeli currency is changing its face – literally: The Bank of Israel has decides to give Israeli note a face lift by 2010, changing the images printed on bills and adding a brand new NIS 500 bill to the series.
The first decision made by the bank was to replace the images of past presidents and prime ministers imprinted on the 20, 50, 100 and 200 shekel bills – and the future 500 note – with images "representing Israel",
such as scenic views, historical sites and prominent social and cultural figures.
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According to Monday's report in Yedioth Ahronoth, the bank has charged a special advisory committee with the task of deciding which Israeli figures will be immortalized as currency.
Among the images considered are those of Israeli astronaut Ilam Ramon, songwriter and composer Naomi Shemer and mythical Jerusalem Mayor Teddy Kollek.
The decision to replace the notes' series stemmed from three needs evident over the past few years: The need to refresh the currency after several decades in use; the need to fight forgeries – the new notes will be embedded with more sophisticate measures to fight counterfeiting; and the future move to plastic, wear-proof notes planned by world markets.
The Bank of Israel's advisory committee stands to issue a bid for the design of the new notes, which will be printed oversees. Israel's last notes' series was printed in Holland.
Israel current notes' series make up 96% of the currency in Israel and is valued at NIS 25.5 billion ($7.09 billion).
The Bank of Israel's spokesman, Yossi Saadon, confirmed the details.
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