SOS 50 | Bank Note | Fifty Shilling | Kae Kae | CurrencyStackerKK | Somali | Africa
50 Somali Shilling
The Somali shilling (sign: Sh.So.; Somali: shilin; Arabic: شلن; Italian: scellino; ISO 4217: SOS) is the official currency of Somalia. It is subdivided into 100 senti (Somali, also سنت), cents (English) or centesimi (Italian).
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.
On 15 October 1962, the Banca Nazionale Somala (National Bank of Somalia) issued notes denominated as 5, 10, 20 and 100 scellini/shillings.On 15 October 1962, the Banca Nazionale Somala (National Bank of Somalia) issued notes denominated as 5, 10, 20 and 100 scellini/shillings. In 1975, the Bankiga Qaranka Soomaaliyeed (Somali National Bank) introduced notes for 5, 10, 20 and 100 shilin/shillings.
In the late 2000s, Somalia’s newly established Transitional Federal Government revived the defunct Central Bank of Somalia. The monetary authority assumed the task of both formulating and implementing monetary policy. The new Central Bank of Somalia expects this inflationary environment to come to an end as soon as the Central Bank assumes full control of monetary policy and replaces the presently circulating currency introduced by the private sector.
#KokulaKrishnaHariK – ASDF International Secretary – Computer Science Specialist. Visit www.kokulakrishnaharik.in for more information.
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