Convert United States Dollar to Somali Shilling
Please provide values below to convert United States Dollar [USD] to Somali Shilling [SOS], or Convert Somali Shilling to United States Dollar.
How to Convert United States Dollar to Somali Shilling
1 USD = 0.00174996622565184 SOS
Example: convert 15 USD to SOS:
15 USD = 15 × 0.00174996622565184 SOS = 0.0262494933847777 SOS
United States Dollar to Somali Shilling Conversion Table
| United States Dollar | Somali Shilling |
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United States Dollar
The United States Dollar (USD) is the official currency of the United States of America, used as a standard unit of monetary value and exchange.
History/Origin
The USD was established in 1792 with the Coinage Act, replacing the Continental Congress's Continental Currency. It has since become one of the world's dominant reserve currencies, influenced by the economic growth of the U.S. and global financial markets.
Current Use
The USD is widely used domestically and internationally for trade, investment, and as a reserve currency. It is the most traded currency in the foreign exchange market and is used as the standard currency in many international transactions.
Somali Shilling
The Somali Shilling (SOS) is the official currency of Somalia, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Somali Shilling was introduced in 1962, replacing the Somali Somali shilling, and has undergone various reforms and devaluations due to economic challenges and civil unrest over the decades.
Current Use
Today, the Somali Shilling remains the official currency of Somalia, used in cash transactions, with banknotes and coins issued by the Central Bank of Somalia. It is also used in some neighboring regions and for remittances.