# Somali shilling

> currency of Somalia

**Wikidata**: [Q4603](https://www.wikidata.org/wiki/Q4603)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Somali_shilling)  
**Source**: https://4ort.xyz/entity/somali-shilling

## Summary
The Somali shilling (SOS) is the official currency of Somalia, issued by the Central Bank of Somalia. It was introduced in 1974 to replace the East African shilling, which had been used in British-controlled territories in East Africa. The shilling is subdivided into 100 centimes, though centimes are no longer in circulation.

## Key Facts
- **ISO 4217 Code**: SOS
- **Subunit**: 100 centimes (no longer in use)
- **Issuer**: Central Bank of Somalia
- **Introduction Date**: December 11, 1974
- **Replaced Currency**: East African shilling
- **Country**: Somalia (ISO 3166-1: SO)
- **Wikidata ID**: Q1275499
- **Unicode Symbol**: Sh.So.
- **Banknotes**: Denominations include 1, 5, 10, 20, 50, 100, 500, and 1000 shillings
- **Coins**: Denominations include 1, 5, 10, 20, 50, and 100 shillings
- **Exchange Rate**: Approximately 0.001467 USD (as of 2024)
- **Related Currency**: Part of the shilling family of currencies
- **Wikipedia Title**: Somali shilling
- **Wikidata Description**: Currency of Somalia

## FAQs
**What is the official currency of Somalia?**
The official currency of Somalia is the Somali shilling (SOS), issued by the Central Bank of Somalia. It was introduced in 1974 to replace the East African shilling, which had been used in British-controlled territories in East Africa.

**How is the Somali shilling subdivided?**
The Somali shilling is subdivided into 100 centimes, though centimes are no longer in circulation. The smallest denomination in use is the 1 shilling coin.

**Which international organizations is the Somali shilling associated with?**
The Somali shilling is managed by the Central Bank of Somalia, which is a member of the African Union and the League of Arab States. It is also part of the shilling family of currencies, which includes other currencies like the Kenyan shilling and Ugandan shilling.

**What are the denominations of Somali shilling banknotes and coins?**
Somali shilling banknotes are available in denominations of 1, 5, 10, 20, 50, 100, 500, and 1000 shillings. Coins are available in denominations of 1, 5, 10, 20, 50, and 100 shillings.

**How does the Somali shilling compare to other African currencies?**
The Somali shilling is part of the shilling family of currencies, which includes other currencies like the Kenyan shilling and Ugandan shilling. It is also managed by the Central Bank of Somalia, which is a member of the African Union and the League of Arab States.

## Why It Matters
The Somali shilling plays a crucial role in the economy of Somalia, facilitating trade and financial transactions within the country. Its introduction in 1974 marked a significant step in Somalia's economic independence, replacing the East African shilling that had been used in British-controlled territories. The currency is managed by the Central Bank of Somalia, which is responsible for issuing banknotes and coins, as well as regulating the country's monetary policy. The Somali shilling is also part of the shilling family of currencies, which includes other currencies like the Kenyan shilling and Ugandan shilling, reflecting the shared economic and cultural ties among these countries. As a member of the African Union and the League of Arab States, the Central Bank of Somalia plays a significant role in regional economic cooperation and financial stability.

## Notable For
- Being the official currency of Somalia, issued by the Central Bank of Somalia
- Introduced in 1974 to replace the East African shilling
- Subdivided into 100 centimes, though centimes are no longer in circulation
- Available in banknote denominations of 1, 5, 10, 20, 50, 100, 500, and 1000 shillings
- Coins available in denominations of 1, 5, 10, 20, 50, and 100 shillings
- Part of the shilling family of currencies, including the Kenyan shilling and Ugandan shilling
- Managed by the Central Bank of Somalia, a member of the African Union and the League of Arab States

## Body
### Currency Overview
The Somali shilling (SOS) is the official currency of Somalia, issued by the Central Bank of Somalia. It was introduced on December 11, 1974, to replace the East African shilling, which had been used in British-controlled territories in East Africa. The shilling is subdivided into 100 centimes, though centimes are no longer in circulation. The smallest denomination in use is the 1 shilling coin.

### Denominations and Issuance
Somali shilling banknotes are available in denominations of 1, 5, 10, 20, 50, 100, 500, and 1000 shillings. Coins are available in denominations of 1, 5, 10, 20, 50, and 100 shillings. The Central Bank of Somalia is responsible for issuing banknotes and coins, as well as regulating the country's monetary policy.

### Economic Context
The Somali shilling is managed by the Central Bank of Somalia, which is a member of the African Union and the League of Arab States. It is also part of the shilling family of currencies, which includes other currencies like the Kenyan shilling and Ugandan shilling. The currency plays a crucial role in the economy of Somalia, facilitating trade and financial transactions within the country.

### Historical Background
The Somali shilling was introduced in 1974 to replace the East African shilling, which had been used in British-controlled territories in East Africa. This marked a significant step in Somalia's economic independence. The currency is managed by the Central Bank of Somalia, which is responsible for issuing banknotes and coins, as well as regulating the country's monetary policy.

### International Relations
The Somali shilling is part of the shilling family of currencies, which includes other currencies like the Kenyan shilling and Ugandan shilling. The Central Bank of Somalia is a member of the African Union and the League of Arab States, reflecting the country's role in regional economic cooperation and financial stability. The currency is also associated with the United Nations and the World Bank, further emphasizing its importance in global economic systems.

### Cultural and Symbolic Significance
The Somali shilling is a symbol of Somalia's economic identity and sovereignty. It is used in daily transactions, trade, and financial activities within the country. The currency is also a reflection of Somalia's cultural and historical ties with other African nations. The Central Bank of Somalia plays a significant role in promoting the use of the Somali shilling and ensuring its stability and reliability.

## References

1. Freebase Data Dumps. 2013
2. [Source](https://www.xe.com/currencyconverter/convert/?Amount=1&From=EUR&To=SOS)
3. GF WordNet