The Somaliland shilling (Somali: Shillin Somaliland, Arabic: شلن صوماليلاندي; abbreviation: SLS; symbol: /-, sometimes prefixed Sl.Sh.) is the official currency of the Republic of Somaliland.[2][3][4]
The shilling has been the currency of parts of Somalia since 1921, when the East African shilling was introduced to the former British Somalilandprotectorate. 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.[5] 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.[6]
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.
Coins
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 PMmint 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 monkey) and 20/- coin (depicting a 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.
1/- 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/- 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 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.
10/- coin (2002)
The Sl.Sh.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 "TEN SOMALILAND SHILLINGS" inscribed around the "10/-" in the centre.
20/- 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/-
The obverse depicts a Somali pigeon (Columba oliviae)
"BAANKA SOMALILAND" and "ONE SOMALILAND SHILLING" appear above and below the "1/-" in the centre
1994
5/-
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 centre
2002
10/-
The obverse depicts a monkey
"BAANKA SOMALILAND" and "TEN SOMALILAND SHILLINGS" appear above and below the "10/-" in the centre
"BAANKA SOMALILAND" and "TWENTY SOMALILAND SHILLINGS" appear above and below the "20/-" in the centre
2002
Banknotes
Banknotes were issued in denominations of 5/-, 10/-, 20/-, 50/-, Sl.Sh.100/-, 500/-, 1,000/- and 5,000/-; dates of issue range from 1994 to 2011.[7] Currently, only the 100/-, 500/-, 1,000/- and 5,000/- notes are in circulation.
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/- 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
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 Sl.Sh.4,550/- for 1 US dollar. Unofficial exchange rates at the time fluctuated between Sl.Sh.4,000/- and Sl.Sh.5,000/- per dollar. In December 2008, the official rate had fallen to Sl.Sh.7,500/- per US dollar.[8]
In December 2015, the generally recognized exchange rate was Sl.Sh.6,000/- per US dollar, and by July 2019, the generally recognized exchange rate had dropped to Sl.Sh.8,500/- per US dollar.
In December 2022, the official exchange rate of Baanka Somaliland was Sl.Sh.8530/- for 1 US dollar. The Somaliland exchange rate in 2019 was Sl.Sh.8,500/- per US dollar which is a 0.35% increase of inflation, the Somaliland Shilling remains stable around the 8,000 mark and will most likely decrease in inflation in the coming years.
^Somaliland new 1,000000- and 5,000000-shilling notes confirmed Archived 2012-01-21 at Wikiwix BanknoteNews.com. Retrieved 2012-01-19.
^Vickery, Matthew. "The surprising place where cash is going extinct". www.bbc.com. Retrieved 2021-12-16.
^Planet, Lonely. "Money and Costs in Somaliland". Lonely Planet. Retrieved 2021-12-16.
^Renders, Marleen (2012-01-27). Consider Somaliland: State-Building with Traditional Leaders and Institutions. BRILL. p. 134. ISBN978-90-04-22254-0.
^Renders, Marleen (2012). Consider Somaliland: State-Building with Traditional Leaders and Institutions. BRILL. p. 134. ISBN978-90-04-22254-0. Retrieved 2 July 2020.
^"Political Settlements and State Formation: The Case of Somaliland". www.dlprog.org. Retrieved 2020-07-08.
^Linzmayer, Owen (2012). "Somaliland". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
^. Archived from the original on 2012-02-14. Retrieved 2005-12-02.
somaliland, shilling, confused, with, somali, shilling, somali, shillin, somaliland, arabic, شلن, صوماليلاندي, abbreviation, symbol, sometimes, prefixed, official, currency, republic, somaliland, شلن, صوماليلاندي, arabic, shilin, somaliland, somali, banknotes1. Not to be confused with Somali shilling The Somaliland shilling Somali Shillin Somaliland Arabic شلن صوماليلاندي abbreviation SLS symbol sometimes prefixed Sl Sh is the official currency of the Republic of Somaliland 2 3 4 Somaliland shillingشلن صوماليلاندي Arabic Shilin Somaliland Somali 500 1 000 and 5 000 banknotes1 coinISO 4217CodeNone SLS is used an abbreviation UnitSymbolSl Sh DenominationsBanknotes5 10 20 50 100 500 1 000 5 000 1 Coins1 5 10 20 DemographicsUser s SomalilandIssuanceCentral bankBank of Somaliland Baanka Somaliland ValuationPegged withU S dollar Sl Sh 8 000 Contents 1 Overview 2 Coins 3 Banknotes 4 Exchange rates 5 See also 6 References 7 External linksOverview EditMain articles Rupee East African shilling British Somaliland and Somali shilling 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 5 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 6 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 Coins EditThe 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 monkey and 20 coin depicting a 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 1 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 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 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 10 coin 2002 The Sl Sh 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 TEN SOMALILAND SHILLINGS inscribed around the 10 in the centre 20 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 The obverse depicts a Somali pigeon Columba oliviae BAANKA SOMALILAND and ONE SOMALILAND SHILLING appear above and below the 1 in the centre 1994 5 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 centre 2002 10 The obverse depicts a monkey BAANKA SOMALILAND and TEN SOMALILAND SHILLINGS appear above and below the 10 in the centre 2002 20 The obverse depicts a greyhound BAANKA SOMALILAND and TWENTY SOMALILAND SHILLINGS appear above and below the 20 in the centre 2002Banknotes EditBanknotes were issued in denominations of 5 10 20 50 Sl Sh 100 500 1 000 and 5 000 dates of issue range from 1994 to 2011 7 Currently only the 100 500 1 000 and 5 000 notes are in circulation 500 notes 1996 2011 notes 1 Obverse Reverse Value Main Colour Obverse Reverse Date s of issue 5 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 Purple 1994 1996 20 Brown 50 Blue 1996 1996 1999 100 Khaki Berbera dockside with Somali sheep and goats Bank of Somaliland in Hargeisa 1994 1996 1999 2002 2005 2006 2008 2011 500 Blue 1 000 Red 2011 2012 2014 2015 5 000 Green Three camels and three goats foraging 2011 2012 2015These images are to scale at 0 7 pixel per millimetre For table standards see the banknote specification table In 1996 and 1999 regular 50 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 EditThe 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 Sl Sh 4 550 for 1 US dollar Unofficial exchange rates at the time fluctuated between Sl Sh 4 000 and Sl Sh 5 000 per dollar In December 2008 the official rate had fallen to Sl Sh 7 500 per US dollar 8 In December 2015 the generally recognized exchange rate was Sl Sh 6 000 per US dollar and by July 2019 the generally recognized exchange rate had dropped to Sl Sh 8 500 per US dollar In December 2022 the official exchange rate of Baanka Somaliland was Sl Sh 8530 for 1 US dollar The Somaliland exchange rate in 2019 was Sl Sh 8 500 per US dollar which is a 0 35 increase of inflation the Somaliland Shilling remains stable around the 8 000 mark and will most likely decrease in inflation in the coming years See also EditEconomy of Somaliland Somali shillingReferences Edit Somaliland new 1 000000 and 5 000000 shilling notes confirmed Archived 2012 01 21 at Wikiwix BanknoteNews com Retrieved 2012 01 19 Vickery Matthew The surprising place where cash is going extinct www bbc com Retrieved 2021 12 16 Planet Lonely Money and Costs in Somaliland Lonely Planet Retrieved 2021 12 16 Renders Marleen 2012 01 27 Consider Somaliland State Building with Traditional Leaders and Institutions BRILL p 134 ISBN 978 90 04 22254 0 Renders Marleen 2012 Consider Somaliland State Building with Traditional Leaders and Institutions BRILL p 134 ISBN 978 90 04 22254 0 Retrieved 2 July 2020 Political Settlements and State Formation The Case of Somaliland www dlprog org Retrieved 2020 07 08 Linzmayer Owen 2012 Somaliland The Banknote Book San Francisco CA www BanknoteNews com Somaliland Republic Country Profile Archived from the original on 2012 02 14 Retrieved 2005 12 02 Cuhaj George S editor 2006 Standard Catalog of World Paper Money Modern Issues 1961 Present 12th ed Krause Publications ISBN 0 89689 356 1 a href Template Cite book html title Template Cite book cite book a author1 has generic name help External links EditCatalogue of Somaliland coins Preceded by Somali shillingReason currency independenceRatio 1 Somaliland shilling 100 Somali shillings 1 50 United States dollar Currency of Somaliland 1994 Note Somaliland is not widely recognized Succeeded by Current Portals Africa Money Numismatics Somaliland Retrieved from https en wikipedia org w index php title Somaliland shilling amp oldid 1144061359, wikipedia, wiki, book, books, library,
