Always Moving Always Sharing Somaliland
StudioD-B%26MG-Somaliland-Final
StudioD-B%26MG-Somaliland-Final
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DUAL-CURRENCY COMPLEXITY<br />
The <strong>Somaliland</strong> Shilling was introduced in 1994, replacing the<br />
Somalia Shilling. The inflation of the <strong>Somaliland</strong> Shilling since has<br />
created a significant rift between those whose income is based in a<br />
shillings ecosystem (pastoralists and those in rural areas) versus<br />
those living in a dollar ecosystem (international traders, receivers of<br />
overseas remittance, individuals receiving income or salary via<br />
Zaad).<br />
Furthermore, all savings and bank accounts in <strong>Somaliland</strong> are in<br />
USD, which acts as a deterrent to rural populations, who believe they<br />
“do not have enough to save.”<br />
NO US CHANGE<br />
There are no US coins in circulation in <strong>Somaliland</strong>,<br />
so transactions frequently start in USD, and end in<br />
SLSH. Change for a dollar is given in shillings,<br />
rounding up and down is common.<br />
8,000<br />
6,000<br />
4,000<br />
2,000<br />
45 SL<br />
7,800 SL<br />
1994<br />
2015<br />
SOMALILAND SHILLINGS TO US$1<br />
B&MG - SOMALILAND MOBILE MONEY STUDIO D RADIODURANS<br />
MAY 2015 33
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