The Somali shilling is the currency issued by the government prior to 1991. It has reduced sharply since then in 1989 the rate was SH252 to US$1, and by 1999 the rate was SH2,600 to US$1. It is most surprising that the currency is still in circulation at all as, until 2000, there has been no government to enforce the currency as legal tender the acceptance of the currency in making payments. U.S. dollars are widely used for anything other than small transactions.
2 comments:
nice money i like it
wish i have some and by the way is alexis gettin handle properly because
she has that mouth
This is a great idea for a post. Really a good way to deal with Somalia's lack of government and economic hardship in one post. However, your grammar, lack of clarity, and spelling make it hard to understand. Make sure you understand what the exchange rate means and that you explain both in your post and presentation. Also, why did the money's rate drop down so fast and much in simply ten years. Why does Somalia have no government? How does Somalia's weak currency effect or relate to their weak economy? What type of economic system do they have? What is the country's GDP (if they have one, which Somalia may not without an organized government)? You must look and examine all the details.
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