The Israeli new sheqalim is the official currency of Israel since 1986 when it replaced the old shekel; the legal tender is also used in the Palestinian territories of the West Bank and the Gaza Strip. The official currency symbol; ₪. The name is derived from the Hebrew root (š-q-l), meaning “weigh”. After the economic crisis in the 1980s, the Bank of Israel, commanded by the Government of Israel, decided to remain under more efficient and cautious fiscal and monetary policies, which allowed the introduction of market economic reforms, achieving a more competitive Israeli economy. In 1985, a new series of banknotes were introduced in denominations of ₪5, ₪10, and ₪50, followed by ₪1 and ₪100 in 1986, ₪20 note in 1988, and ₪200 note in 1992. Coins later replaced the ₪1, ₪5, and ₪10 notes. The second series, introduced in 1999, replaced the 2005 series and introduced the ₪500.
In 2012, The Bank of Israel announced a new series of banknotes which was introduced between 2012 and 2017; 20₪, ₪50, ₪100, and ₪200.
The 50 Israeli new sheqalim note front design features the portrait of Shaul Tchernichovsky (1875 –1943), who was a Russian-born poet considered one of the great Hebrew poets, on a background with a citrus tree and its fruits, a stylized sketch of an open golden book completed the design. The lettering on this side of the note is in the Hebrew language. The reverse of the note presents a stylized illustration of a Corinthian column and lines from the poem “I Believe” of Shaul Tchernichovsky. The lettering on this side of the note is in the Arabic and English languages. This note is part of the 2013 – 2017 series, and its color is green and multicolor.
Text: 50 Shekels, 50, Bank Of Israel, 50 New Shekels, Oh, My Land, My Homeland, For I Will Yet Also Believe In Man, And In His Spirit, Even A Strong Spirit.