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The ISO 4217 currency code for the Somalian Shilling.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
ISO 4217 code for the Somali shilling. 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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved