Israeli pruta
Encyclopedia
The Pruta was a denomination
of currency
in Israel
prior to 1960.
The pruta was introduced shortly after the establishment of the state of Israel
, as the 1000th part of the Israeli pound
. 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.
The word Pruta was borrowed
from Mishnaic
Hebrew
, in which it meant "a coin of smaller value." This word was probably derived originally from an Aramaic word with the same meaning.
The Pruta was abolished in 1960 when the Israeli government decided to change the subdivision of the Israeli pound into 100 agorot
. This move was necessary due to the constant devaluation
of the Israeli pound, which rendered coins smaller than 10 prutot redundant.
This pruta should not be confused with the halachic
pruta, which is the minimal value of money for a variety of halachic applications. Among them, the minimal value one is obligated to return if stolen, the minimal value needed to effect a marriage, and the minimal investment needed to be considered an investor (it is equivalent to 0.025 grams of pure silver).
Denomination (currency)
Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. See also Redenomination.-Subunit and super unit:...
of currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
in Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
prior to 1960.
The pruta was introduced shortly after the establishment of the state of Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
, as the 1000th part of the Israeli pound
Israeli pound
The Israeli lira or Israel pound was the currency of Israel from shortly after the creation of the state in 1948 until 1980. Until 1952, the name used on the notes of the Anglo-Palestine Bank was Palestine pound, in Hebrew לירה א"י . In Arabic, the name was given as junayh filisţīnī...
. 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.
The word Pruta was borrowed
Loanword
A loanword is a word borrowed from a donor language and incorporated into a recipient language. By contrast, a calque or loan translation is a related concept where the meaning or idiom is borrowed rather than the lexical item itself. The word loanword is itself a calque of the German Lehnwort,...
from Mishnaic
Mishnah
The Mishnah or Mishna is the first major written redaction of the Jewish oral traditions called the "Oral Torah". It is also the first major work of Rabbinic Judaism. It was redacted c...
Hebrew
Hebrew language
Hebrew is a Semitic language of the Afroasiatic language family. Culturally, is it considered by Jews and other religious groups as the language of the Jewish people, though other Jewish languages had originated among diaspora Jews, and the Hebrew language is also used by non-Jewish groups, such...
, in which it meant "a coin of smaller value." This word was probably derived originally from an Aramaic word with the same meaning.
The Pruta was abolished in 1960 when the Israeli government decided to change the subdivision of the Israeli pound into 100 agorot
Israeli agora
The agora is a denomination of the currency of Israel. The Israeli currency - the new Israeli shekel is divided into 100 agorot.The name agora actually refers to three kinds of currencies that were used in Israel throughout its history, all of them have been subdivisions of the main currency...
. This move was necessary due to the constant devaluation
Devaluation
Devaluation is a reduction in the value of a currency with respect to those goods, services or other monetary units with which that currency can be exchanged....
of the Israeli pound, which rendered coins smaller than 10 prutot redundant.
This pruta should not be confused with the halachic
Halakha
Halakha — also transliterated Halocho , or Halacha — is the collective body of Jewish law, including biblical law and later talmudic and rabbinic law, as well as customs and traditions.Judaism classically draws no distinction in its laws between religious and ostensibly non-religious life; Jewish...
pruta, which is the minimal value of money for a variety of halachic applications. Among them, the minimal value one is obligated to return if stolen, the minimal value needed to effect a marriage, and the minimal investment needed to be considered an investor (it is equivalent to 0.025 grams of pure silver).