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I wanted to know how is the currency exchange rate is determined for the Somali shilling ? Who sets it ?

AbdiWahab252 wrote:I wanted to know how is the currency exchange rate is determined for the Somali shilling ? Who sets it ?

Are you asking us??
you have been to somalia hence should be the one telling us..

AbdiWahab252 wrote:I wanted to know how is the currency exchange rate is determined for the Somali shilling ? Who sets it ?

To my information, the current excahange rate for the Somali shillings is set by the business communities in Bakara Market and in Bosaso lately. There is a reason why the Bakara market receives more shelling than any other place in Somalia and that is to destroy it for good so the Somali economy completely collapses.

Hope that helps.

This SOmali brother went to a Shop in SOmalia and one his first day he tried to buy a coke. The shopkeeper told him he didn't have enough money. But, I have a 1000 shillin, the brother replied.

AbdiWahab252 wrote:I wanted to know how is the currency exchange rate is determined for the Somali shilling ? Who sets it ?

I think the question could have been phrased better Abdiwahab!I think you were meant to say Somalia currency. Somali is an ethnicity that extends beyond the borders of a political construct.

Hope that helps.

marcassmith wrote:

AbdiWahab252 wrote:I wanted to know how is the currency exchange rate is determined for the Somali shilling ? Who sets it ?

I think the question could have been phrased better Abdiwahab!I think you were meant to say Somalia currency. Somali is an ethnicity that extends beyond the borders of a political construct.

Hope that helps.

Dude, you are the only one that needed help understand the question. I believe we all got the q.

Abdi,

Beside the violence how is Somali business wise?

The question should be -WHO uses it?

Basra- wrote:The question should be -WHO uses it?

haha

sometimes u are so clever

The poorest scoundrel in xamar has a money note with george washington face printed on it. ($ 1.00)




PS: Qora----iidunnko.

uuf


kuma dhuunkanayoo

marcassmith wrote:

AbdiWahab252 wrote:I wanted to know how is the currency exchange rate is determined for the Somali shilling ? Who sets it ?

I think the question could have been phrased better Abdiwahab!I think you were meant to say Somalia currency. Somali is an ethnicity that extends beyond the borders of a political construct.

Hope that helps.

When reffering to Somalia you say Somali. So its the Somali currency, like its the American dollar, not the America dollar.

U got that?

1 usd is about 75,000 somali shilling

Udun answered your question

Hawalads make a lot on currency exchange of the fake somali shilling

When money gets printed, much of it goes through the hawalads who exchange it for dollars from the west. They get crazy deals on the shillings, its an important revenue stream for the Hawalads and a lot of people don’t realize this.

Shirib wrote:

marcassmith wrote:

AbdiWahab252 wrote:I wanted to know how is the currency exchange rate is determined for the Somali shilling ? Who sets it ?

I think the question could have been phrased better Abdiwahab!I think you were meant to say Somalia currency. Somali is an ethnicity that extends beyond the borders of a political construct.

Hope that helps.

When reffering to Somalia you say Somali. So its the Somali currency, like its the American dollar, not the America dollar.

U got that?

LOL@U got that?

Shirib,

All Countries are different and must be judged according to their own standards. In future, be careful not to subsume all countries under an American standard.

On the issue of the Somali currency, we need to perhaps clarify a few things.

Somali, unlike American, is an ethnicity that goes beyond the porous borders of 'Somalia'. Consequently, we need to distinguish the difference between a political construct and an ethnicity. With this in mind, its important we understand the exact extent to which the ineptly named 'Somali' currency has value and is used. Somalis in Somaliland, Kenya and Ethiopia do not currently for the most part use this inflation-ridden and worthless currency.