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Somali Shilling

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Somali Shilling
The currency of Somalia. While the East African shilling was in use in parts of present-day Somalia since 1921, the present shilling was introduced in 1962. It suffered from hyperinflation in the 1980s and again in the early 2000s. Currently, the shilling is used mainly for small transactions, with U.S. dollars or (less frequently) euros being used for large ones. The breakaway region of Somaliland issues its own shilling, which is accepted there and is not related to the Somali shilling.


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Aa Somali telecom operators use the US dollar and other regional currencies in their operations to avoid problems associated with an extremely weak Somali shilling.
The Ethiopian occupation and shell-shocked soul of Mogadishu, along with massive poverty and rampant devaluation of the Somali shilling have caused tens of thousands of children to live dangerously.
Since the Ethiopian invasion in December 2006, excessive printing of new money and reduced business activity have precipitously pushed down the value of the Somali shilling against the U.
 
 
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