Somalia currency is known as "
shilling" and its ISO code is "SOS".
Somalia currency has been in use from the early 19th century when the shilling of eastern -Africa was initiated in the Somali land that was under the British administration.
After receiving independence from the Britishers the "shilling" from then on was used by the Somalians to carry on with their trading transactions. The "shilling" has been brought out in the name of the "Democratic Republic of
Somalia".
MAIN FEATURES OF THE CURRENCY IN SOMALIA
The local export and import business is carried out in Somalia using this currency, which is limited till Sosh200. Foreign transactions are carried on using this currency. In the southern part of Somalia only the 1000 shilling banknote is in use till date and the 500 shilling note has become obsolete along with the ancient shilling notes such as 10, 20, 5 and many others. 10 shilling coins are still known as record coins in Somalia because these coins are still in use since the ancient times and have not lost its value. In certain northern -Somalian areas the 500 shilling is still used amongst the locals . The currency position in Somalia is not quite well known for most of the areas in Somalia are rural sectors that stick to the old currency system.
