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** Palestinian pound
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Palestinian and pound
As of 1 July 1950, the Jordanian dinar became the kingdom ’ s official currency, and use of the Palestinian pound ceased in the kingdom on 30 September 1950.
The British Mandate of Palestine, which administered the territory now known as Israel, Jerusalem, the West Bank and Gaza prior to May 15, 1948, issued the Palestinian pound, a currency equal in value and pegged to the UK Pound, which was divided into 1000 Mils.
Israel inherited the Palestinian pound but, shortly after the establishment of the state, new banknotes were issued by the London-based Anglo-Palestine bank of the Zionist movement.
It replaced the mil, which was the 1000th part of the Palestinian pound, a currency issued by the British Mandate of Palestine prior to May 1948.
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