Somalia plans to introduce new notes by 2024

Somalia plans to introduce new notes by 2024

• The Central Bank of Somalia is planning the first new issue of 1,000 shilling ($1.76) banknotes for more than three decades. The last 1,000 shilling note entered circulation in 1990, the year before Somalia’s central government collapsed.

• The pre-civil war paper currency had continued to circulate, but over time the notes have worn out and counterfeits have driven out genuine pieces.

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Published date : 24 Jan 2023 06:21PM