Pound Sterling to Somali Shilling — exchange rate

The British pound or pound sterling (symbol: £, code: GBP, number: 826) is the national currency of the United Kingdom of Great Britain. It is an official currency of Gibraltar, the Falkland Islands, Saint Helena. The GBP abbreviation is used to identify £ in the international financial arena.

Change is called pence, also known as British pennies. One GBP has 100 pennies. It is one of the oldest world currencies. The currency was issued in 1694, replacing the East African rupee. In spite of mass euro introduction on the European territory, Great Britain refused to get rid of its local currency. Pound sterling has remained the main reserve currency for many governments for a long time.

The Somali shilling (So) is a currency used for payment in the Federal Republic of Somalia. For ease, and to avoid confusion, the currency is called SOS in the financial arena. The Somali shilling is formally subdivided into cents.

SOS equals 100 cents. However, cents are actually not used in practice. The Somali shilling has become official in 1960. Before that, there were two currencies: the somalo and the West African shilling. Because of the fact that the power was taken by local criminal groups, due to a huge financial crisis, unstable political situation, the issuance of the shilling has been stopped several times. Since 2012, the currency has been issued again.