The Israeli New Sheqel (ILS) is the official currency of Israel. It is used as a medium of exchange in the country and is also traded in the global financial markets. ILS is primarily used as an investment opportunity for both international and domestic investors. The currency is seen as a safe haven asset, primarily due to its stability and limited exposure to geopolitical risks. With its low inflation rate, ILS is an attractive investment for traders and investors looking for long-term stability and security. Additionally, the currency is used for hedging and speculation, allowing investors to reduce risk by diversifying their portfolio.