The history of banknotes in Palestine reflects the political and economic changes in the region over time. From the time of the British Mandate to the present day, Palestinian currency has undergone various transformations, influenced by historical events and ruling authorities.
Old Palestinian banknotes
During the British Mandate of Palestine (1920-1948), banknotes were issued by the Palestine Currency Board. These banknotes, denominated in Palestinian pounds, featured inscriptions in English, Arabic and Hebrew, reflecting the cultural diversity of the region. After the establishment of the State of Israel in 1948, these banknotes were replaced in different areas by new national currencies, such as the Israeli lira and the Jordanian dinar.
Current banknotes in circulation
Currently, the Palestinian Monetary Authority is responsible for the issuance of banknotes in the Palestinian territories. However, due to political complexities, there is no separate Palestinian currency. Instead, three currencies are mainly used : the Israeli shekel, the Jordanian dinar and the U.S. dollar. Efforts to establish a Palestinian currency of its own continue, but are subject to ongoing political and economic negotiations in the region.
