Muse says that he earns between 7,000 and 10,000 Somali shillings
daily and gives all of the money to his parents, so that they can buy food for the family.
Finance Minister Mohamed Ali Hamoud pledged to work towards reducing inflation by accepting the Somali shilling
over dollars in tax collections.
The Somali Shilling
fluctuates (over the last few months) between SoShs14,000 to SoShs18,000 per $1.
Halane stated that The strategy to manufacture the new currency is meant to revive the collapse of the Somali shilling
that was resulted by the more than two decades of the civil war in the country.
About $100 is equivalent to 3 million Somali shillings
, which apart from being heavy to carry, exposes money traders to the risk of robbery in the lawless state.
I gave an amount of Somali shillings
to Mr Noor, to use as he saw fit, but I told him that I wanted to have my guns (and a considerable part of my hunting clothes packed with them) when coming back three days later.
In 2000, 14,000 Somali shillings
purchased a dollar, but the rate deteriorated to 45,000 in 2001 when the government printed more money, Ali said.
Billions of Somali shillings
printed in Canada and Indonesia by certain warlords six months ago, considerably watered down the value of the shilling, currently exchanging at Sh20,000 to $US1.
At one point, the brothers offered a new car and $10,000 in Somali shillings
in exchange for Susman's release.
Norman's been ferrying planesful of Somali shillings
for the outlying UNICEF offices.
The little food that was available was extremely expensive - one egg costs around 5,000 Somali Shillings
(20 US cents) - a five-fold increase since the beginning of the year.
Market data released on July 8 by monitors at the Food Security Analysis Unit - Somalia (FSAU) shows that the price of maize rose to 15,000-18,500 Somali shillings
per kilogram in four markets in the Shabelle Valley, from around 3,000 shillings at the same time last year.