29/12/2014: 1 US Dollar = 3.891 Israeli Sheqel
The Israeli Sheqel (ILS) reaches a historical low against the US Dollar in the foreign exchange market.
01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes
Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa currency.
04/05/2008: Introduction of New Banknotes
New Israeli Sheqel (ILS) banknotes with enhanced security features were issued.
01/09/1999: Introduction of Sheqel Coins
Israeli Sheqel (ILS) coins were introduced, replacing the agora as the subunit of the currency.
24/02/1985: Hyperinflation Crisis
Israel experiences hyperinflation, leading to the introduction of the new Israeli Sheqel (ILS).
31/03/1983: Currency Control Law Implemented
Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.
16/03/1960: Introduction of the New Sheqel
The old Israeli pound (ILP) was replaced by the new Israeli Sheqel (ILS) as the official currency.
24/02/1949: Introduction of the Israel Pound
The Israeli pound (ILP) was introduced as legal tender in Israel.
24/09/1948: Israeli Declaration of Independence
The Israeli pound (ILP) was introduced as the official currency of Israel.
15/10/1941: First Issue of Panamanian Balboa Banknotes
The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.
01/10/1941: Introduction of the Balboa as Legal Tender
The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.
01/10/1908: Creation of Panamanian Currency Board
The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.
01/01/1907: Use of US Dollar in Panama
The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.
18/11/1904: Panama Canal Construction Begins
The construction of the Panama Canal started, which would later lead to the need for a national currency.