Somaliland shilling

Somaliland shilling
Somaliland shilling
شلن صوماليلاندي (in Arabic); Shilin Somaliland (in Somali)
500, 1000 and 5000 Somaliland shilling banknotes	1 Somaliland shilling coin
ISO 4217
Code	SLS
Denominations
Symbol	Sl. Sh.
Banknotes	5, 10, 20, 50, 100, 500, 1000 and 5000 Somaliland shillings
Coins	1, 5, 10, 20 Somaliland shillings
Demographics
User(s)	Somaliland
Issuance
Central bank	Bank of Somaliland (Baanka Somaliland)
Website	www.bankofsomaliland.net
Valuation
Pegged with	U.S. dollar = ~8500 SL Shillings
	^ This currency code is not part of the ISO 4217 standard, but is used commercially. ;

The Somaliland shilling (Somali: Shillin Somaliland, Arabic: شلن صوماليلاندي‎) is the official currency of the Republic of Somaliland.^[2]^[3]

Overview[]

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 form of currency to replace the Somali shilling.^[4] The Somaliland (SL) shilling was introduced on 18 October 1994 at a rate of one new Somaliland shilling to 100 Somali shillings. The Somali shilling ceased to be accepted as legal tender in Somaliland on 31 January 1995.^[5]

The Somaliland shilling is pegged to the United States dollar at a rate of 8,500 shillings to 1 dollar. Only the 100, 500, 1,000 and 5,000 Somaliland shilling banknotes are currently in circulation.

Coins[]

Nominally, one Somaliland shilling (symbol "/-") is 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 one shilling coin, first minted in 1994 at the Pobjoy Mint in England and thus bearing the PM mint mark. In 2002, 2 and 5 shilling coins were issued, bearing depictions of explorer Sir Richard Burton and a rooster, respectively. Other coins that have been issued are the 10 shilling coin (depicting a monkey) and 20 shilling coin (depicting a dog). Somaliland coins are not currently being minted or circulated.

The 1/- and 5/- coins are made of aluminium, the 10/- coin of brass, the 20/- coin of stainless steel, and the 1,000/- coin of .999 fine silver.

1 Shilling 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 Shilling 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 rooster. 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 Shilling coin (2002)

The 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 Shilling 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.

Value	Obverse	Reverse	Date of issue
1 Somaliland shilling	The obverse depicts a Somali pigeon (Columba oliviae)	"BAANKA SOMALILAND" and "ONE SOMALILAND SHILLING" appear above and below the "1/-" in the center	1994
5 Somaliland shillings	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 center	1994
10 Somaliland shillings	The obverse depicts a monkey	"BAANKA SOMALILAND" and "TEN SOMALILAND SHILLINGS" appear above and below the "10/-" in the center	2002
20 Somaliland shillings	The obverse depicts a greyhound	"BAANKA SOMALILAND" and "TWENTY SOMALILAND SHILLINGS" appear above and below the "20/-" in the center	2002

Banknotes[]

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

500 Somaliland shilling notes.

1996-1996 notes [1]
Obverse	Reverse	Value	Main Colour	Obverse	Reverse	Date(s) of issue
		5 Somaliland shillings	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 Somaliland shillings	Purple			1994, 1996
		20 Somaliland shillings	Brown			1994, 1996
		50 Somaliland shillings	Blue			1996, 1996, 1999
		100 Somaliland shillings	Khaki	Berbera dockside with Somali sheep and goats	Bank of Somaliland in Hargeisa	1994, 1996, 1999, 2002, 2005, 2006, 2008, 2011
		500 Somaliland shillings	Blue			1994, 1996, 1999, 2002, 2005, 2006, 2008, 2011
		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 shilling 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[]

Money exchangers in Hargeisa

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 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, and by July 2019, the generally recognized exchange rate had dropped to 8,500 shillings per US dollar.

References[]

^ Somaliland new 1,000000- and 5,000000-shilling notes confirmed Archived 2012-01-21 at Wikiwix BanknoteNews.com. Retrieved 2012-01-19.
^ The Transitional Federal Charter of the Somali Republic Archived 2008-12-18 at the Wayback Machine: "The Somali Republic shall have the following boundaries. (a) North; Gulf of Aden. (b) North West; Djibouti. (c) West; Ethiopia. (d) South south-west; Kenya. (e) East; Indian Ocean."
^ CIA - The World Factbook - Somalia
^ 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.
^ "Archived copy". Archived from the original on 2012-02-12. Retrieved 2005-12-02.CS1 maint: archived copy as title (link)

Cuhaj, George S. (editor) (2006). Standard Catalog of World Paper Money: Modern Issues 1961-Present (12th ed.). Krause Publications. ISBN 0-89689-356-1.CS1 maint: extra text: authors list (link)

External links[]

Catalogue of Somaliland coins.

Preceded by: Somali shilling Reason: currency independence Ratio: 1 Somaliland shilling = 100 Somali shillings = 1/50 United States dollar	Currency of Somaliland 1994 – Note: Somaliland is not widely recognized	Succeeded by: Current

[non-ISO-1] This currency code is not part of the ISO 4217 standard, but is used commercially.

[2] Somaliland new 1,000000- and 5,000000-shilling notes confirmed Archived 2012-01-21 at Wikiwix BanknoteNews.com. Retrieved 2012-01-19.

[3] The Transitional Federal Charter of the Somali Republic Archived 2008-12-18 at the Wayback Machine: "The Somali Republic shall have the following boundaries. (a) North; Gulf of Aden. (b) North West; Djibouti. (c) West; Ethiopia. (d) South south-west; Kenya. (e) East; Indian Ocean."

[4] CIA - The World Factbook - Somalia

[5] 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.

[6] "Political Settlements and State Formation: The Case of Somaliland". www.dlprog.org. Retrieved 2020-07-08.

[7] Linzmayer, Owen (2012). "Somaliland". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.

[8] "Archived copy". Archived from the original on 2012-02-12. Retrieved 2005-12-02.CS1 maint: archived copy as title (link)

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