Somaliland shilling


Somaliland shilling

Infobox Currency
currency_name_in_local = شلن صوماليلاندي ar icon Soomaaliland shilin so icon|
image_title_1 = 10 shillings
image_2 =
image_title_2 = 100 shillings
iso_code = SOS
using_countries = flag|Somaliland
symbol = Sl. Sh.
used_coins = 1, 5, 10, 20 shillings
coin_article = Coins of the Somaliland shilling
used_banknotes = 5, 10, 20, 50, 100, 200, and 500 shillings
banknote_article = Banknotes of the Somaliland shilling
issuing_authority = Bank of Somaliland
issuing_authority_website = www.somalilandgov.com/bank.htm

The Somaliland shilling (Somali: "Soomaaliland shilin") is the official currency of the self declared Republic of Somaliland, which has been a "de facto"-independent state since 1991. It was introduced on 18 October 1994 at one new Somaliland shilling to 100 Somali shillings. The Somali shilling ceased to be legal tender in Somaliland on 31 January 1995.

Coins

Nominally, one Somaliland shilling is divided into 100 cents, but coins denominated in cents have never been issued, probably due to the low value of one shilling. The coin with the lowest value is the one shilling coin, first minted in 1994 at the Pobjoy Mint in England and therefore bearing the "PM" mintmark. In 2002, 2 and 5 shilling coins were issued, bearing depictions of the explorer Sir Richard Burton and of a rooster, respectively. Other coins that have been issued at some point are the 10 shilling coin (depicting a monkey), the 20 shilling coin (depicting a dog), and a silver 1,000 shilling coin (also depicting Sir Richard Burton). The reverse side of the 1,000 shilling coin contains an interesting error: Instead of depicting the Coat of arms of Somaliland, they depict the Coat of arms of Somalia instead.

Banknotes

Banknotes are issued with denominations of 5, 10, 20, 50, 100, and 500 shillings. The 500 shilling has the most recent issue of 2005 [cite web | author=Nachthund | date=2007-01-07 | url=http://www.nachthund.biz/CatalogUpdate/Somaliland/SomalilandIndex.html | title=Update - Somaliland. | accessdate=2007-01-19] . Other dates of issue include, 1994, 1996, 1999, and 2002.

Exchange rates

The central bank provides exchange services for various currencies at the official government rate, but most people prefer the better, although unofficial, rates provided by the Hawala agents and moneychangers found on the streets of main cities.

In November 2000 the official exchange rate of the Somaliland Central Bank was 4,550 shillings for 1 US dollar. Unofficial exchange rates at the time were fluctuating between 4,000 and 5,000 shillings per dollar.

The official exchange rate of the Somaliland Central Bank is 6,000 shillings for 1 US dollar. Unofficial exchange rates are fluctuating between 6,000 and 6,500 shillings per dollar. Fact|date=February 2007

ee also

*Economy of Somaliland

References

*numis cite SCWPM | date=2006

External links

Standard numismatics external links
world_coin_gallery_1_url = Somaliland
world_coin_gallery_1_name = Somaliland
banknote_world_1_url = somaliland
banknote_world_1_name = Somaliland
dollarization_1_url = so
dollarization_1_name = Somalia
gfd_1_url = Somaliland
gfd_1_name = Somaliland
gfd_data_1_url =
gfd_data_1_name =
show_gfd_excel = Y


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