The Somalian Centra Bank is proud to introduce its new currency notes for the first time in the past 25 years. The country has been using the same old notes since collapse of its government in 1991. Though later they shifted into US Dollars. These long period have lead to booming counterfeiting which has affected the trading and economy adversely.
Somalia New Currency Series Includes 20000 Shilling
This is when the government has decided to come up with the new series of currencies. The Central Bank Governor, Mr.Bashir Isse Ali, explained that the notes that are to be newly introduced will be meeting international security measures and hence will curb out counterfeiting efficiently.
At present the notes will include denomination of 1000,2000,5000,10000 and 20,000. They also have a plan to print notes for 50,000 along with with lesser than 1000 denominations.
Though the total expense of the printing will account almost $60 million, the government is proud to complete this task with international agencies banking the fund, as it will be a great step in rejuvenating the economy from fake currencies.