- Monetary unit:
the Country code:
- Somalia, Democratic Republic
- of 627 340 sq. km
- Somali (state), Arabian, English, Italian
- SO (SOM) 706
Monetary unit of the Somali Democratic Republic is the Somali shilling making 100 cents and manufactured by Central bank of Somalia.
In territory of the Somali Democratic Republic, formed as a result of association in June, 1960 of the former British protectorate Somalilend and the Italian mandatory territory of Somalia, the Indian rupee originally addressed, which in the subsequent has been replaced in northern (British) part of the country by the East African shilling (Kenya ), and in Southern (Italian) - Italian lira see . In English occupation of the Italian part of Somalia - with 1941 for 1944 - the lira has been replaced by the East African shilling, and since May, 22nd, 1950 by monetary unit has been declared a somalo, equal to the East African shilling. Issue of a somalo was manufactured by Cash desk of monetary circulation of Somalia, its rate was controlled by Currency office of Italy. In 1960 the National bank of Somalia has been created and the new monetary unit - the Somali shilling is entered.
In the cash circulation there are denominations of denomination of 5,10, 20, 50, 100, 500, 1000 shillings.
In a turn-over there are notes of various modifications (depending on a year of issue), thus all versions of denominations are a lawful legal tender in territory of this East African country. The international designation of the Somali shilling - SOS .
Since 1991 of Somalia it was controlled by various local military leaders after disintegration of the central government. Many provinces of Somalia in the nineties manufactured the last century the currency (for example N-shillings), any of which has not got accustomed. In the end of 2000th years, the transitive federal government recreated in Somalia has recovered Central bank of Somalia. From the point of view of a finance administration, monetary control he should incur a problem of working out and monetary policy realisation. In connection with absence of reliance of the Somali shilling, the US dollar was widely adopted as a medium of exchange along with the Somali shilling.
The Integral element of design of all token moneys of Somalia is the plotting of the State Emblem of this country representing the crowned board with a star, as chargers two leopards who stand on palm leaves and spears act.
It is updated 03.2012