ISRAELI NEW SHEKEL-ILS. The Israeli new shekel, symbol NIS, code ILS, is also seen spelled as the new sheqel, is the official currency for the State of Israel, a middle eastern country of nearly 8 million people.SRAELI NEW SHEKEL-ILS. The Israeli new shekel, symbol NIS, code ILS, is also seen spelled as the new sheqel, is the official currency for the State of Israel, a middle eastern country of nearly 8 million people.