Usage of Indian currency without dedicated legislation
??.??.1937
Ordinance [Coinage, No. 25], allowed the usage of the East African common currency besided the Indian Rupee; effective ??.??.1937
??.??.1951
Ordinance [Coinage and Currency, No. 16] on the extention of the jurisdiction of the East African Currency Board to the British Somaliland Protectorate and introduction of the East African common currency replacing the Indian Rupee; effective 01.04.1951: - 30.09.1951: Demonetization of the Indian currency at a rate of 1 Indian Rupee = 1.5 East African Shillings.
22.04.1961
Start of currency exchange after Somalian independence: - 22.04.1961: Start of issuance of banknotes and coins in Somalian Somalo in former British Somaliland Protectorate - 25.06.1961: Demonetization of the East African currency in former British Somaliland Protectorate.
Time Period: 1994-
Currency: Somaliland Shilling
Transition
1 : 100 Somalian Shillings
Sub-units
(none)
ISO4217
none (informal: SQS)
Timeline
??.09.1994
Law [Xeerka Baanka Somaliland] on the establishment of the Bank of Somaliland and the creation of a national currency; effective upon constitution of the bank on 18.10.1994
12.04.2012
Law [Xeerka Baanka Dhexe, No. 54] on the reconstitution of the central bank; effective immediately
??.09.1994
Gesetz zur Währungstrennung von Somalia; in Kraft am 18.10.1994
18.10.1994
Start of currency exchange: - 18.10.1994: Start of issuance of the new banknotes and coins - 31.01.1995: Demonetization of the Somalian currency.
Valuation Regimes
1994-1996
Fixed rate against US Dollar
1996-
Variable rate, highly inflationary. The central bank did not quote any rate until 14.04.2019.