December 6, 2023

Somalia’s central bank is planning to issue a new 1,000-shilling ($1.76) note for the first time in more than 30 years.

The last 1,000-shilling note entered circulation in 1990, a year before the Somali central government collapsed. Pre-Civil War paper money continued to circulate, but over time the paper money wore away and the counterfeit drove out the genuine one.

In an interview on January 17th Bloomberg, Deputy Governor Ali Yasin Wardheere said new instructions would be issued