Somali Shilling · SOS
Sh symbol · 1 country currently using this currency.
Currency info
Adopted: 1962
Currency family: Other
The Somali shilling has one of the most volatile exchange rates in the world due to decades of political instability and the absence of a functioning central bank for much of the 1990s and 2000s.
- Introduced in 1962 following Somalia's independence, replacing the East African shilling
- Experienced severe devaluation during the 1980s and 1990s due to civil conflict and economic collapse
- The currency became largely unusable by the late 1990s, with the US dollar becoming the de facto currency in many regions
- Reintroduced by the Central Bank of Somalia in 2011 as part of post-conflict economic reconstruction
Countries currently using this currency
Related
Other Other currencies
Historical predecessor
East African shilling