The Israeli currency is composed of two main forms: the SHEKEL (6 letters) and the Agora (5 letters). The SHEKEL is the official currency of Israel and is divided into 100 agorot. The SHEKEL is used for everyday transactions, while the Agora is a smaller denomination used for more precise calculations. The SHEKEL is also used in the Palestinian territories. The Agora is no longer in circulation, but it is still accepted as legal tender in some places.