Somali Shilling

Somali Shilling

The Somali shilling (sign: Sh.So.; Somali: shilin; Arabic: شلن‎; Italian: scellino; ISO 4217: SOS) is the official currency of Somalia. It is subdivided into 100 senti (Somali, also سنت), cents (English) or centesimi (Italian).

US Dollar

US Dollar

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its territories per the United States Constitution since 1792. For most practical purposes, it is divided into 100 smaller cent (¢) units, but is occasionally divided into 1000 mills (₥) for accounting purposes. The circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars (12 U.S.C. § 418). Since the suspension in 1971 of convertibility of paper U.S. currency into any precious metal, the U.S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U.S. dollar is the world's primary reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or also accept U.S. dollar coins (such as the Sacagawea or presidential dollar). As of June 27, 2018, there are approximately $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes (the remaining $50 billion is in the form of coins).

580 Somali Shilling to US Dollar exchange rates chart

580 SOS to USD exchange rates graph
580 SOS to USD Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

580 SOS to USD exchange rates table

Exchange SOS to USD
580 Somali Shilling = 1.011 US Dollar
1160 Somali Shilling = 2.022 US Dollar
2900 Somali Shilling = 5.054 US Dollar
5800 Somali Shilling = 10.108 US Dollar
Exchange Somali Shilling to US Dollar
580 Somali Shilling to US Dollar Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

580 SOS to USD exchange rates news

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conditional positive
SERUMAGA - SAP - SEASON TWO: Who is driving civil service reform in Uganda? The people or the IMF?
SERUMAGA - SAP - SEASON TWO: Who is driving civil service reform in Uganda? The people or the IMF?

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conditional negative
GOLDSMITH - OL' MAN RIVER AND THE DAM STATE: Kenya's misguided Big Water policy
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In this first part of a three-part series, PAUL GOLDSMITH questions the wisdom of Kenya's prioritisation of big dam projects in the face of growing evidence of their negative social, environmental and economic impact.

conditional positive
Somaliland's world-leading move towards a cashless culture

A breakaway region in the Horn of Africa isn’t the obvious setting for a technological revolution

indicative positive
US Dollar Losses Hit Pause after October CPI; Focus Remains on Brexit

The DXY Index is off the lows, and rates markets are continuing to price in December for another rate hike from the Fed.

indicative positive
Pound-to-US-Dollar Exchange Rate: GBP/USD Starts The Week On Soft Footing As Brexit Anxiety Mounts

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conditional neutral
Pound US dollar exchange rate: GBP retreats as Brexit text faces Cabinet scrutiny

THE pound US dollar exchange rate has fallen as much as 0.5 per cent this morning, slumping from a high of $1.302 to the current rate of $1.295 as Brexit jitters weigh on sentiment.

conditional positive

580 SOS to USD currency converter