Somali shilling struggles against dollarisation, market collapse

Author: Abdulkadir KhalifPublished on: May 15, 2026Country: Somalia
Business & Economy
Somali shilling struggles against dollarisation, market collapse

Abdirahman Nur, a currency exchanger in Mogadishu, has witnessed the devaluation of the Somali shilling since the 1990s, with the gradual disappearance of banknotes in circulation. In April, traders began refusing the only remaining note, the Sos1,000, leading to a crisis for currency exchangers. On May 4, Nur and others protested in the streets of Mogadishu, calling on authorities to act to revive the struggling currency.

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