On Google it says 1 dollar is 500 shilling
In Somalia 1 dollar is 30k shilling
If you went to Somali a you know what I mean
In Somalia 1 dollar is 30k shilling
If you went to Somali a you know what I mean
It is a poor country and they don't have an institution that adjust the inflation for the market. In germany after the WW1 you had to stack money in bags and wheelbarrow to buy food.Why is the shilling so weak? You sure it’s 30,000 for a dollar ? In somailand is 10,000 SL shilling equal to 1 dollar. For the longest SL shilling stayed at 7,500 = $1
There's not much of value you can buy there besides land and houses.On Google it says 1 dollar is 500 shilling
In Somalia 1 dollar is 30k shilling
If you went to Somali a you know what I mean
On Google it says 1 dollar is 500 shilling
In Somalia 1 dollar is 30k shilling
If you went to Somali a you know what I mean
Why is the shilling so weak? You sure it’s 30,000 for a dollar ? In somailand is 10,000 SL shilling equal to 1 dollar. For the longest SL shilling stayed at 7,500 = $1
There's not much of value you can buy there besides land and houses.
It was hard walking around with stacks of mony in bags to buy dinner, when you can just convert it to to few dollars. But you are right, people should ditch the dollar and only use the national currency.Also since the shilling is so weak most transactions use US dollars , which isn’t good for the economy. You should be trying to strengthen your own currency instead of being dependent on the dollar
Somalia is an unstable and poor country (if you can even call it that). There is no organised economy with statistical boards so its hard to keep in track with the exchange rate. Also, you can literally buy shillings from old men sitting in the street who raise the shillings for lower dollars and so on so forth.On Google it says 1 dollar is 500 shilling
In Somalia 1 dollar is 30k shilling
If you went to Somali a you know what I mean
I remember it when it was 6k.Why is the shilling so weak? You sure it’s 30,000 for a dollar ? In somailand is 10,000 SL shilling equal to 1 dollar. For the longest SL shilling stayed at 7,500 = $1
Yes. Low confidence depreciates the value of the currency. When the US dollar is used as a medium of exchange, it usually leads to an inflation of the local currency. This can have a bad effect on the country's economic health as an extension.I think the value of Shilling and its worth in Somalia are different.
The Somali shilling is valued 500 SOS to 1 USD, as that's indicative of Somalia's economic growth rate.
However as everyone wants US dollars over Somali shillings in Somalia, the worth of Somali shillings would plummet to 21,000 to 1 USD.
Sorry if I'm wrong, my economics is rusty.
30k idk about but it jumps between 16-22k per dollar
It’s true in puntland but I’m not sure about the rest of the country.