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The Somali Shilling is now equal to the West African CFA Franc

Mohamedamiin120

Marxist-Leninist, Somali (Galbeed).
Many do not know this but the valuation of the Somali shilling has grown over the past week (likely due to investors jumping ship from the Ethiopian Birr, which has been devalued consistency for the past year). I did not expect it to jump to the level of the CFA Franc- would be great if this was a permanent thing but I doubt it.

The jump is bigger then the jumps in 2022-2023, I would like to see the reaction from exporters before I comment on this (obviously, as we all know, exporters like a weaker currency while importers like a stronger one).
Screenshot 2025-10-10 at 12.10.18 PM.png
 
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is this a good thing or is it complicated though? i noticed that the 1 naira is 0.39 shilling. 1 congolese franc is 0.62 naira?

also the jump seems bigger than 2024:
1760117589120.png
 

Mohamedamiin120

Marxist-Leninist, Somali (Galbeed).
i heard in the 80's 1 USD equivalent to 12 Somali shillings
No during the 80s the Somali shilling went into a freefall due to IMF and World Bank policies designed to maximize export potential. From the ratio of USD to Somali Shilling being 1:6 in 1981 to 1:105 in 1987.

A really underestimated reason why '91 happened, Kacaan listened to Western fools and paid the price.

Here is the table if you wanna see yourself: https://fred.stlouisfed.org/data/FXRATESOA618NUPN
 
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Mohamedamiin120

Marxist-Leninist, Somali (Galbeed).
Is the Somali shilling even used much in Somalia itself?
Somali shilling used for smaller 'day to day' transactions (eg: buying flour) while the USD is used for larger, more expensive transactions (eg: buying a fishing boat).

On foreign trade (IN PORTS) people export and import in USD because it's easier to use, more foreign partners trust it, and it's harder to counterfeit. What do Somalis use for land trade? I have no clue for Kenya or Djibouti but trade along the artificial border [Galbeed] is done in USD, Somali Shilling, and Birr. With Birr taking more of a back seat more and more as it get's devalued by Addis (even tho right now it's more valuable then the Somali Shilling- it's way less stable then it tho)
 
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Sorry to burst your bubble but that’s actually false. The Somali shilling is around 27000 to 1$ and it is rarely used, dollar is more used. The official rate is not used anywhere, even transfers from abroad come in dollars, not to mention its not used past Galkacyo, only in Mogadishu.
 

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