Somaliland shilling

Somaliland shilling
Country:	Somaliland
Subdivision:	no
ISO 4217 code :	no
Abbreviation:	SQS, SlSh
Exchange rate : (March 2006)	1  EUR  = 7,700 SQS 1,000 SQS = 0.13 EUR CHF 1   = 7,200 SQS 1,000 SQS = CHF 0.14

50 shilling banknote

The Somaliland shilling ( English Somaliland shilling , somali Soomaaliland shilin ) is the currency of the internationally not recognized Somaliland , which was introduced in October 1994. It is a domestic currency that cannot be traded outside the country.

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The issuing institution is Baanka Somaliland , the central bank of Somaliland. This determines the value of the Somaliland shilling against other currencies. In March 2006 you got around 6,400 Somaliland shillings for one US dollar , in 2008 it was 7,500 shillings. There is no official ISO code for the currency; the abbreviation SQS is common .

Course coins were issued in the face values ​​1, 5, 10, 20 and 1000 SQS. Banknotes are available in denominations of 5, 10, 20, 50, 100 and 500 SQS.

Due to the low face value of the local banknotes, other currencies are also used in payment transactions, primarily the US dollar and the Ethiopian birr .