Somaliland Shilling
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Somaliland Shilling
Somaliland shilling
(in Arabic)
Shilin Somaliland (in Somali)
Somaliland Shillings.jpg 1 Somaliland Shilling Coins Obverse 1994.jpg
500, 1000 and 5000 Somaliland shilling banknotes1 Somaliland shilling coin
ISO 4217
CodeSLS[a]
Denominations
SymbolSl. Sh.
Banknotes5, 10, 20, 50, 100, 500, 1000 and 5000 Somaliland shillings[1]
Coins1, 5, 10, 20 Somaliland shillings
Demographics
User(s) Somaliland
Issuance
Bank of Somaliland (Baanka Somaliland)
 Websitewww.bankofsomaliland.net
Valuation
Pegged withU.S. dollar = ~8500 SL Shillings
  1. ^ This currency code is not part of the ISO 4217 standard, but is used commercially.

The Somaliland shilling (Somali: Shillin Somaliland, Arabic: ‎) is the official currency of the Republic of Somaliland.[2][3]

Overview

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 (plural), along with shilling (singular: scellino; plural: scellini) and .

In September 1994, the Parliament of Somaliland endorsed President Egal's plans to introduce a new form of currency to replace the Somali shilling.[4] The Somaliland (SL) shilling was introduced on 18 October 1994 at a rate of one new Somaliland shilling to 100 Somali shillings. The Somali shilling ceased to be accepted as legal tender in Somaliland on 31 January 1995.[5]

The Somaliland shilling is pegged to the United States dollar at a rate of 8,500 shillings to 1 dollar. Only the 100, 500, 1,000 and 5,000 Somaliland shilling banknotes are currently in circulation.

Coins

Nominally, one Somaliland shilling (symbol "/-") is 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 one shilling coin, first minted in 1994 at the Pobjoy Mint in England and thus bearing the PM mint mark. In 2002, 2 and 5 shilling coins were issued, bearing depictions of explorer Sir Richard Burton and a rooster, respectively. Other coins that have been issued are the 10 shilling coin (depicting a monkey) and 20 shilling coin (depicting a dog). Somaliland coins are not currently being minted or circulated.

The 1/- and 5/- coins are made of aluminium, the 10/- coin of brass, the 20/- coin of stainless steel, and the 1,000/- coin of .999 fine silver.

1 Shilling coin (1994)

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.

5 Shilling coins (2002)

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 rooster. 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.

10 Shilling coin (2002)

The 10/- coin obverse depicts a monkey, around which the words "REPUBLIC OF SOMALILAND 2002" are inscribed. The reverse of the coin has "BAANKA SOMALILAND" and "TWENTY SOMALILAND SHILLINGS" inscribed around the "20/-" in the centre.

20 Shilling coin (2002)

The obverse of the 20/- coin depicts a 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.

Obverse Reverse Value Obverse Reverse Date of issue
1 Somaliland Shilling Coins Reverse 1994.jpg 1 Somaliland Shilling Coins Obverse 1994.jpg 1 Somaliland shilling The obverse depicts a Somali pigeon (Columba oliviae) "BAANKA SOMALILAND" and "ONE SOMALILAND SHILLING" appear above and below the "1/-" in the center 1994
5 Somaliland Shilling Coins Reverse 2002.jpg 5 Somaliland Shilling Coins Obverse 2002.jpg 5 Somaliland shillings There were two coins of this denomination, both issued in 2002. The first coin obverse has a portrait of Sir Richard Francis Burton, while the second depicts a rooster. "BAANKA SOMALILAND" and "FIVE SOMALILAND SHILLINGS" appear above and below the "5/-" in the center 1994
10 Somaliland Shilling Coins Obverse 2002.jpg 10 Somaliland Shilling Coins Reverse 2002.jpg 10 Somaliland shillings The obverse depicts a monkey "BAANKA SOMALILAND" and "TEN SOMALILAND SHILLINGS" appear above and below the "10/-" in the center 2002
20 Somaliland Shilling Coins Obverse 2002.jpg 20 Somaliland Shilling Coins Reverse 2002.jpg 20 Somaliland shillings The obverse depicts a greyhound "BAANKA SOMALILAND" and "TWENTY SOMALILAND SHILLINGS" appear above and below the "20/-" in the center 2002

Banknotes

Banknotes were issued in denominations of 5, 10, 20, 50, 100, 500, 1,000 and 5,000 Somaliland shillings; dates of issue range from 1994 to 2011.[6] Currently, only the 100, 500, 1,000 and 5,000 Somaliland shilling notes are in circulation.

500 Somaliland shilling notes.
1996-1996 notes [1]
Obverse Reverse Value Main Colour Obverse Reverse Date(s) of issue
5 Somaliland Shillings back.jpg 5 Somaliland Shillings.jpg 5 Somaliland shillings Green Camel caravan in front of Naasa Hablood Hills near Hargeisa Goodirka Building (Former House of Representatives, later Supreme Court) in Hargeisa, and a kudu to the right 1994
10 Somaliland Shillings back.jpg 10 Somaliland Shillings.jpg 10 Somaliland shillings Purple 1994, 1996
20 Somaliland Shillings back.jpg 20 Somaliland Shillings.jpg 20 Somaliland shillings Brown
50 Somaliland Shillings back.jpg 50 Somaliland Shillings.jpg 50 Somaliland shillings Blue 1996, 1996, 1999
100 Somaliland Shillings back.jpg 100 Somaliland Shillings.jpg 100 Somaliland shillings Khaki Berbera dockside with Somali sheep and goats Bank of Somaliland in Hargeisa 1994, 1996, 1999, 2002, 2005, 2006, 2008, 2011
500 Somaliland Shillings back.jpg 500 Somaliland Shillings.jpg 500 Somaliland shillings Blue
1000 Somaliland Shillings back.jpg 1000 Somaliland Shillings.jpg 1000 Somaliland shillings Red 2011, 2012, 2014, 2015
5000 Somaliland Shillings back.jpg 5000 Somaliland Shillings.jpg 5000 Somaliland shillings Green Three camels and three goats foraging 2011, 2012, 2015

|colspan="7"|These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table. |}

In 1996 and 1999, regular 50 Somaliland shilling notes were reissued in a larger size (130 × 58 or 130 × 57 mm by difference sources).

5th Anniversary of Independence Commemorative Issue (1996)

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.

Exchange rates

Money exchangers in Hargeisa

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.

In November 2000, the official exchange rate of Baanka Somaliland was 4,550 shillings for 1 US dollar. Unofficial exchange rates at the time fluctuated between 4,000 and 5,000 shillings per dollar. In December 2008, the official rate had fallen to 7,500 shillings per US dollar.[7]

In December 2015, the generally recognized exchange rate was 6,000 shillings per US dollar, and by July 2019, the generally recognized exchange rate had dropped to 8,500 shillings per US dollar.

See also

References

  1. ^ Somaliland new 1,000000- and 5,000000-shilling notes confirmed Archived 2012-01-21 at Wikiwix BanknoteNews.com. Retrieved 2012-01-19.
  2. ^ The Transitional Federal Charter of the Somali Republic Archived 2008-12-18 at the Wayback Machine: "The Somali Republic shall have the following boundaries. (a) North; Gulf of Aden. (b) North West; Djibouti. (c) West; Ethiopia. (d) South south-west; Kenya. (e) East; Indian Ocean."
  3. ^ CIA - The World Factbook - Somalia
  4. ^ Renders, Marleen (2012). Consider Somaliland: State-Building with Traditional Leaders and Institutions. BRILL. p. 134. ISBN 978-90-04-22254-0. Retrieved 2020.
  5. ^ "Political Settlements and State Formation: The Case of Somaliland". www.dlprog.org. Retrieved .
  6. ^ Linzmayer, Owen (2012). "Somaliland". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  7. ^ "Archived copy". Archived from the original on 2012-02-12. Retrieved .CS1 maint: archived copy as title (link)

External links

Preceded by:
Somali shilling
Reason: currency independence
Ratio: 1 Somaliland shilling = 100 Somali shillings = 1/50 United States dollar
Currency of Somaliland
1994 –
Note: Somaliland is not widely recognized
Succeeded by:
Current

  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

Somaliland_shilling
 



 



 
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