Somaliland 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 independence in 1960 Between two countries British Somaliland and Italian Somaliland, the somalo of Italian Somaliland and the East African shilling (which were equal in value) were replaced at par in 1962 by the Somali shilling. Names used for the denominations were cent (singular: centesimo; plural: centesimi) and سنت (plural: سنتيمات) together with shilling (singular: scellino; plural: scellini) and شلن.

The Somaliland shilling was introduced on 18 October 1994 at a rate of one new Somaliland shilling to 100 Somali shillings.

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 Somali shilling ceased to be accepted as legal tender in Somaliland on 31 January 1995.[5]

Nominally, one Somaliland shilling is divided into 100 cents, but coins denominated in cents have never been issued, probably due to the low value of one shilling. The coin with the lowest value is the one shilling coin, first minted in 1994 at the Pobjoy Mint in England and therefore bearing the PM mintmark. In 2002, 2 and 5 shilling coins were issued, bearing depictions of explorer Sir Richard Burton and of a rooster, respectively. Other coins that have been issued at some point are the 10 shilling coin (depicting a monkey), the 20 shilling coin (depicting a dog). Somaliland coins are not currently being minted or circulated.

There are nominally 100 cents in one Somaliland shilling. The 1/- coin was struck at the Pobjoy Mint in England. The 1/- and 5/- coins are composed of aluminium. The 10/- coin is composed of brass, the 20/- coin is composed of stainless steel, and the 1,000/- coin is composed of .999 fine silver.

1/- Shilling (1994)

This was the first coin issued by the Somaliland government. The coin depicts a Somali pigeon (Columba oliviae). The obverse of the coin is inscribed 'REPUBLIC OF SOMALILAND 1994'. The PM (Pobjoy Mint) mint mark is located near the bird's tail feathers. The reverse of the coin is inscribed 'BAANKA SOMALILAND' and '.ONE SOMALILAND SHILLING.'. The symbol '1/-' is in the centre.

5/- Shillings (2002)

There were two coins of this denomination, both issued in 2002. The first coin has a portrait of Sir Richard Francis Burton, and the second coin depicts a rooster.

The specifications of the first coin are as follows:

The obverse of the coin is inscribed "RICHARD F. BURTON EXPLORATION OF SOMALILAND". The dates "1841 1904" are to the left of the portrait, and "2002" is to the right of the portrait. The reverse of the coin is inscribed "BAANKA SOMALILAND" and ".FIVE SOMALILAND SHILLINGS.". The symbol "5/-" is in the centre.

The specifications of the second coin are as follows:

The obverse of this coin is inscribed "REPUBLIC OF SOMALILAND 2002". The main obverse design depicts a rooster. The reverse of the second coin is the same as the first coin.

10/- Shillings (2002)

Is the third lowest denomination of the shilling. It has a monkey on the front.

20/- Shillings (2002)

The obverse of this coin depicts a Greyhound. It is inscribed 'REPUBLIC OF SOMALILAND 2002'. The reverse of this coin is inscribed 'BAANKA SOMALILAND' and '.TWENTY SOMALILAND SHILLINGS.' The symbol '20/-' is in the centre.

Obverse	Reverse	Value	Obverse	Reverse	Date of issue
		1/- Somaliland Shilling	The coin depicts a Somali pigeon (Columba oliviae).	'BAANKA SOMALILAND' and '.ONE SOMALILAND SHILLING.'. The symbol '1/-' is in the centre	1994
		5/- Somaliland Shilling Coins	There were two coins of this denomination, both issued in 2002. The first coin has a portrait of Sir Richard Francis Burton, and the second coin depicts a rooster.	The reverse of the coin is inscribed "BAANKA SOMALILAND" and ".FIVE SOMALILAND SHILLINGS.". The symbol "5/-" is in the centre.	1994
		10/- Somaliland Shilling	Is the third lowest denomination of the shilling. It has a monkey on the front.	The reverse of the coin is inscribed "BAANKA SOMALILAND" and ".TWENTY SOMALILAND SHILLINGS.". The symbol "10/-" is in the centre.	2002
		20/- Somaliland Shilling	The obverse of this coin depicts a Greyhound.	The reverse of the coin is inscribed "BAANKA SOMALILAND" and ".TEN SOMALILAND SHILLINGS.". The symbol "20/-" is in the centre.	2002

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

50 USD equivalent in 2011

1996-1996 notes
Obverse	Reverse	Value	Main Colour	Obverse	Reverse	Date of issue
		5 Somaliland shillings	Green	Camel caravan, Naasa Hablood ("Girl's Breasts") hills near Hargeisa.	Goodirka" (Parliament, later Supreme Court building, Hargeisa), kudu	1994
		10 Somaliland Shillings	Purple			1994, 1996
		20 Somaliland Shillings	Brown
		50 Somaliland Shillings	Blue	Camel caravan, Naasa Hablood ("Girl's Breasts") hills near Hargeisaa.	Goodirka" (Parliament, later Supreme Court building,Hargeisa), kudu	1996, 1996, 1999
		100 Somaliland Shillings	Khaki green	Bank of Somaliland in Hargeisa	Berbera dockside with herds of Somali sheep and goats	1994, 1996, 1999, 2002, 2005, 2006, 2008, 2011
		500 Somaliland Shillings	Blue
		1000 Somaliland Shillings	Red			2011, 2012, 2014, 2015
		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 shillings notes were reissued with increased 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 gaining de facto independence. However, whether these commemorative notes were overprinted by the Somaliland authority or by numismatic merchant is unclear.

Money exchangers in Hargeisa

The central bank provides exchange services for various currencies at the official government rate, but most people prefer the better, although unofficial, rates provided by the hawala agents and moneychangers found 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. In July 2019, the generally recognized exchange rate increased to 8,500 shillings per US dollar.

• Economy of Somaliland

• Catalogue of Somaliland coins.