Design of the new somali shilling revealed 10000 and 5000 notes

[Saahid Qamaan]

 

[Saahid Qamaan]

 

[Saahid Qamaan]

It will come into circulation in 2019 inshallah

 

[Hatredfree]

Looks ugly

 

[CangeeroBear]

Nice and simple!

 

[NotAjnabi]

10000

I will be using dollars instead of this bullshit

 

[Nomad2054]

they put the sayid on it aun nice touch.

 

[Macalin M]

5000 SOS is like £6

Damn. We might as well create a new currency in the next decade
To be fair the pound is one of the strongest currencies, if not the strongest, in the world

 

[NotAjnabi]

Why is the text in arabic though? That's like having the swedish currency in japanese

 

[Rocca Littorio]

Why is the text in arabic though? That's like having the swedish currency in japanese

Its because Arabic is the joint national language of Somalia and has been for centuries.

 

[Ras]

50,000 is around $50...

Tell Gaas to stop printing counterfeit money.

 

[Wardheere]

Why not print 1 instead of 10000.
Its easire that way.

They are playing some mental game.

 

[Karim]

50,000 is around $50...

Tell Gaas to stop printing counterfeit money.

$50=1,250,000 Somali shilling (Million and twenty five thousand)

 

[Ras]

$50=1,250,000 Somali shilling (Million and twenty five thousand)

It's actually less

$50 = 30k shilling as of today.

 

[Karim]

It's actually less

$50 = 30k shilling as of today.

30k shilling is 1.3 Dollars lol

 

[Ras]

30k shilling is 1.3 Dollars lol

According to Gaas maybe.

 

[Karim]

According to Gaas maybe.

Gaas has nothing to do with this. Before Gaas in 2010-13 the Somali Shilling reached it's lowest point.
$100 was 3.4 Million Somali shilling at that time.

 

[felloff]

Thread from Skyscrapercity Somalia

"Here are some options the government should consider when revaluing the Somali Shilling and printing new currency. I believe the government should print these new denominations of Somali Shilling [1, 5, 10, 20 or 25, 50, 100, 500, 1,000, 5,000, 10,000 and 20,000]. If needed, 50,000 can added as well but I don't it is necessary if $1 is based on SOS 1,000 or less. Personally, I like option 5 from the above picture. It is based on the approximate value of current world market value of the Somali Shilling which is around 7 Somali Shillings per USD $0.01 (one cent) U.S. $1 dollar would be worth around 700 Somali Shillings. This means the government would need to print low digit Somali Shillings starting at 1 Somali Shilling. Imagine drinking tea in Somalia for 70 Somali Shillings which is about $0.10 cents if option 5 is chosen!"

Whats the point of high numbers, ethiopian birr is 30br for a dollar, somalia should try get 50-100 to a dollar this may lower dollar use and increase the somali shillings usage

 

[Ras]

Thread from Skyscrapercity Somalia

"Here are some options the government should consider when revaluing the Somali Shilling and printing new currency. I believe the government should print these new denominations of Somali Shilling [1, 5, 10, 20 or 25, 50, 100, 500, 1,000, 5,000, 10,000 and 20,000]. If needed, 50,000 can added as well but I don't it is necessary if $1 is based on SOS 1,000 or less. Personally, I like option 5 from the above picture. It is based on the approximate value of current world market value of the Somali Shilling which is around 7 Somali Shillings per USD $0.01 (one cent) U.S. $1 dollar would be worth around 700 Somali Shillings. This means the government would need to print low digit Somali Shillings starting at 1 Somali Shilling. Imagine drinking tea in Somalia for 70 Somali Shillings which is about $0.10 cents if option 5 is chosen!"

Whats the point of high numbers, ethiopian birr is 30br for a dollar, somalia should try get 50-100 to a dollar this may lower dollar use and increase the somali shillings usage

Devaluation require a strong hold on the money supply.

The government can't just simply announce what the shilling is worth.

They'll be laughed out the door by those in the markets and money changers.

Other countries are able to easily devalue their currencies by announcing that they'll decrease the money supply.

FGS needs a functioning central bank for that.

 

[Baliska]

It's actually less

$50 = 30k shilling as of today.

For reference. 50 USD is 5000 JP YEN.

So not that bad. But it's done deliberately by JP.