Somali Shilling
Shilin Soomaali
Currency Code
SOS
ISO 706
Symbol
SOS
Native: Sh.So.
Decimal Digits
2
Rounding: 0
Countries
SO
Using this currency
Currency Units
Major Unit
Name: shilling
Symbol: Sh.So.
Minor Unit
Name: senti
Symbol:
Value: 0.01
Banknotes
Frequently Used
Sh.So.500Sh.So.1000
Rarely Used
Sh.So.10Sh.So.20Sh.So.50Sh.So.100
Coins
Frequently Used
Sh.So.1Sh.So.5Sh.So.10Sh.So.25
Rarely Used
1 senti5 senti10 senti
Plural Forms
English Plural
Somali shillings
Native Plural
Shilin Soomaali
Overview
The Somali Shilling is the currency of Somalia, managed by the Central Bank of Somalia. The currency has faced significant challenges due to political instability and lack of central authority for extended periods, leading to widespread use of foreign currencies.
Economy
- Somalia is a member of AU, Arab League, IGAD, OIC.
- Main industries include: Agriculture, Livestock, Money transfer/remittances, Telecommunications, Fisheries.
- Somalia is part of the World Trade Organization.
- Imports are manufactures, petroleum products, foodstuffs, construction materials, qat.
- Major exports include livestock, bananas, fish, charcoal, scrap metal.
- GDP: $7.6 billion (2023 est.).
- GDP per capita: $446 (2023 est.).
- Unemployment rate: 54% (2014 est.).
- Inflation rate: 1.5% (2017 est.).
- Main trading partners: United Arab Emirates, Saudi Arabia, India, China, Oman, Kenya.
- Trade agreements: Limited due to security situation, IGAD preferential trade.
History
- Previous currencies used: East African shilling, Italian somalo, British somaliland shilling.
- The Somali shilling was introduced in 1962, replacing the East African shilling after Somalia's independence. During the civil war period (1991-2012), the currency lacked central control.
- 1962: SOS introduced, replacing East African shilling
- 1991: Central government collapse, currency fragmentation
- 2012: Federal Government established
- 2018: Central Bank of Somalia reestablished
- 2020: Currency reform efforts initiated
- Exchange rate peg: Free floating (when functioning).
General Information
- ISO 4217 Code: SOS
- Symbols: SOS/Sh
- Currency Subunits: 100 senti
- Central Bank: Central Bank of Somalia
- Monetary Policy: Limited monetary policy capacity due to institutional challenges. Focus on rebuilding financial system and currency credibility.
- Bills: 5 SOS, 10 SOS, 20 SOS, 50 SOS, 100 SOS, 500 SOS, 1000 SOS
- Coins: 1 shilling, 5 shillings, 10 shillings
- USD Exchange Rate: Variable (approximately 580-600 SOS per USD)
- Pegged To: None (Floating)
- Capital: Mogadishu
- Population: 17,065,581 (2023 est.)
- Area: 637,657 km²
- Languages: Somali (official), Arabic (official), Italian, English
- Time Zones: UTC+3 (East Africa Time)
- Government Type: Federal parliamentary republic
- Head of Government: President (head of state), Prime Minister (head of government)
- Independence: July 1, 1960 (from UK and Italy)
- Ethnic Groups: Somali 85%, Bantu and other non-Somali 15%
- Religions: Sunni Muslim 99.9%, Other 0.1%
- Literacy Rate: 37.8% (2015 est.)
- Transport: Aden Adde International Airport, limited road network, major ports (Mogadishu, Berbera, Bosaso)
- Communications: Private telecommunications, 15.9% internet penetration, mobile network coverage
- Energy: Biomass 94%, Petroleum products 6%
- Countries Using This Currency: Somalia
- Data Sources: Central Bank: Central Bank of Somalia (rebuilding), Economic Data: Somalia National Bureau of Statistics, World Bank, IMF, Trade Data: Limited official data, international estimates, Demographic Data: Somalia National Bureau of Statistics, Geographic Data: Somalia Water and Land Information Management, Historical Data: Central Bank archives (limited)
- Last Updated: 2025