Event
official currency of the Republic of Somaliland
The Somaliland shilling (Somali: Shillin Somaliland, Arabic: شلن صوماليلاندي; abbreviation: Sl.Sh. or SLSH; symbol: /-) is the official currency of the Republic of Somaliland, a partially recognised state in the Horn of Africa, recognised by most countries as de jure part of Somalia.
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Text from the Wikipedia article “Somaliland shilling”, available under CC BY-SA 4.0.
The Somaliland shilling (Somali: Shillin Somaliland, Arabic: شلن صوماليلاندي; abbreviation: Sl.Sh. or SLSH; symbol: /-) is the official currency of the Republic of Somaliland, a partially recognised state in the Horn of Africa, recognised by most countries as de jure part of Somalia.
The shilling has been the currency of parts of Somalia since 1921, when the East African shilling was introduced to the former British Somaliland protectorate. Following the 1960 independence and unification of the former territories of British Somaliland and Italian Somaliland, their respective currencies, the East African shilling and somalo (which were equal in value) were replaced at par in 1962 by the Somali shilling. Names used for its denominations were cent (singular: centesimo; plural: centesimi) and سنت (plural: سنتيمات), along with shilling (singular: scellino; plural: scellini) and شلن.
In September 1994, the Parliament of Somaliland endorsed President Egal's plans to introduce a new currency to replace the Somali shilling. The Somaliland shilling was introduced on 18 October 1994 at a rate of Sl.So. 1/- to So.Sh. 100/-. The Somali shilling ceased to be accepted as legal tender in Somaliland on 31 January 1995.
The Somaliland shilling is pegged to the United States dollar at a rate of Sl.Sh. 580/12 to US$1. Only the 100/-, 500/-, 1,000/- and 5,000/- banknotes are currently in circulation.
The Somaliland shilling is nominally divided into 100 cents, but coins denominated in cents have never been issued due to their low value. The coin with the lowest value to have been issued is the 1/- coin, first minted in 1994 at the Pobjoy Mint in England and thus bearing the PM mint mark. In 2002, 2/- and 5/- coins were issued, bearing depictions of explorer Sir Richard Burton and a cockerel, respectively. Other coins that have been issued are the 10/- coin (depicting a vervet monkey) and 20/- coin (depicting an Italian Greyhound). Somaliland coins are not currently being minted or circulated.
The 1/- and 5/- coins are struck in aluminium, the 10/- coin in brass, the 20/- coin in stainless steel, and the 1,000/- coin in .999 fine silver.
This was the first coin issued by the Somaliland government. The coin depicts a Somali pigeon (Columba oliviae). The PM (Pobjoy Mint) mint mark is located near the bird's tail feathers. The words "REPUBLIC OF SOMALILAND 1994" are inscribed on the obverse of the coin; the reverse of the coin bears the words "BAANKA SOMALILAND" and "ONE SOMALILAND SHILLING" around the "1/-" in the centre.
There are two coins in this denomination, both issued in 2002. The first bears a portrait of Sir Richard Francis Burton, the second depicts a rooster.
The specifications of the first coin are as follows:
The obverse of the coin has the words "RICHARD F. BURTON EXPLORATION OF SOMALILAND" inscribed around Burton's portrait. The dates "1841 1904" are to the left of the portrait, and "2002" is to the right. "BAANKA SOMALILAND" and "FIVE SOMALILAND SHILLINGS" are inscribed on the reverse around the "5/-" in the centre.
The specifications of the second coin are as follows:
The obverse of this coin has the words "REPUBLIC OF SOMALILAND 2002" inscribed on it and depicts a cockerel. As with the other 5/- coin, the dates "1841 1904" are to the left of the portrait, and "2002" is to the right. 'BAANKA SOMALILAND' and 'FIVE SOMALILAND SHILLINGS' are also inscribed on the reverse around the "5/-" in the centre.
The Sl.Sh.10/- coin obverse depicts a vervet monkey, around which the words "REPUBLIC OF SOMALILAND 2002" are inscribed. The reverse of the coin has "BAANKA SOMALILAND" and "TEN SOMALILAND SHILLINGS" inscribed around the "10/-" in the centre.
The obverse of the 20/- coin depicts an Italian Greyhound and has the words "REPUBLIC OF SOMALILAND 2002" inscribed around it. The reverse has "BAANKA SOMALILAND" and "TWENTY SOMALILAND SHILLINGS" inscribed around the "20/-" in the centre.
Banknotes were issued in denominations of 5/-, 10/-, 20/-, 50/-, 100/-, 500/-, 1,000/- and 5,000/-; dates of issue range from 1994 to 2011. Currently, only the 100/-, 500/-, 1,000/- and 5,000/- notes are in circulation.
In 1996 and 1999, regular 50/- notes were reissued in a larger size (130 × 58 or 130 × 57 mm by difference sources).
In 1996, banknotes were overprinted with the phrase "5th Anniversary of Independence 18 May 1996 Sanad Gurada 5ee Gobanimadda 18 May 1996" in bronze/gold letters, or "Sanad Gurada 5ee Gobanimadda 18 May 1996" in silver letters to commemorate the fifth anniversary of de facto independence. However, it is unclear whether these notes were overprinted by Somaliland authorities or numismatic merchants.
The central bank provides exchange services for various currencies at the official government rate, but most people prefer the unofficial rates used by hawala agents and money changers on the streets of main cities.Somaliland exchange rates are set to change due to revaluation of its currency somaliland would have less inflation with cheaper costs of goods in somaliland , Bank of Somaliland can realistically set Somaliland currnecy valuation at 40 Somaliland shillings per dollar. with a over a 3/4 increase in value. revaultion would make imports cheaper by over 3/4 and reset somaliland import partners where they could trade with new countrys with similar currency values such as Thailand , Morocco and india
Text from the Wikipedia article “Somaliland shilling”, available under CC BY-SA 4.0.