US Dollar to Somali Shilling — exchange rate

The US dollar ($) is the national currency of the United States of America, one of the global reserve currencies. It is used as an official currency unit in Salvador, Marshall Islands, Panama, Bermuda. USD is used as an abbreviation for convenience and internationalization purposes.

The US dollar is subdivided into cents. Every dollar has 100 cents. The currency has existed since 1792. The first dollars were made out of silver, then paper notes appeared. They have had the traditional greenish or grey color from the outset. Around 35 million pieces of dollars of different denomination worth 635 million emigrate to the USA daily. 95% of the banknotes are to replace worn-out notes.

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.