SOS to IQD

SOS - Somali Shilling (S)
IQD - Iraqi Dinar (د.ع.‏)
1 SOS1 IQD

Currency conversion rates from SOS to IQD

SOSIQD
1 SOS1 IQD
5 SOS5 IQD
10 SOS10 IQD
20 SOS20 IQD
50 SOS50 IQD
100 SOS100 IQD
250 SOS250 IQD
500 SOS500 IQD
1000 SOS1000 IQD
2000 SOS2000 IQD
5000 SOS5000 IQD
10000 SOS10000 IQD
IQDSOS
1 IQD1 SOS
5 IQD5 SOS
10 IQD10 SOS
20 IQD20 SOS
50 IQD50 SOS
100 IQD100 SOS
250 IQD250 SOS
500 IQD500 SOS
1000 IQD1000 SOS
2000 IQD2000 SOS
5000 IQD5000 SOS
10000 IQD10000 SOS

IQD - Iraqi Dinar (IQD)

Iraqi Dinar

The Iraqi Dinar is issued by the Central Bank of Iraq. The Dinar was subdivided into 1,000 fils, but inflation has rendered the fils obsolete. As a result the deposition of Saddam Hussein in the 2003 invasion of Iraq, the new Iraqi Dinar was released on October 15, 2003.

The Iraqi Dinar is the currency in Iraq (IQ, IRQ). The exchange rate for the Iraqi Dinar was last updated on May 24, 2019 from Yahoo Finance. The IQD conversion factor has 5 significant digits.

Economy

  • As security improves, foreign investment is helping to spur increased economic activity, particularly in the energy, construction, and retail sectors.
  • To reach its economic potential, Iraq needs to reduce regulatory impediments and make significant upgrades to its oil processing, pipeline, and export infrastructure.

History

  • The Dinar was fixed at par with the British Pound until 1959, then fixed to the US Dollar at one Dinar to 2.8 Dollars. It was decoupled from the US Dollar when that currency was devalued in 1971 and 1973.
  • After the Gulf War in 1991, UN sanctions meant that new, inferior quality banknotes were printed in large quantities-and the Dinar quickly lost its value. The previous issue stayed in circulation, and became known as the ""Swiss dinar."" It continued to circulate, especially in the northern Kurdish region of Iraq.
  • The new (convertible) Iraqi Dinar was released on October 15, 2003. It replaced all old Dinar and Swiss Dinar banknotes, which were no longer legal tender. (One old Dinar was exchanged for one new Iraqi Dinar; one unit of the Swiss"" Dinar was exchanged for 150 new Iraqi Dinars.) The new Iraqi Dinar banknotes were similar to the Swiss Dinar notes, with more security features to guard against counterfeiting.
  • The new banknotes were in demand by overseas investors expecting the currency to increase in value as Iraq's economy improved.

More information about IQD - Iraqi Dinar (IQD)


SOS - Somali Shilling (Sh.So.)

Somali Shilling

The Somalia Shilling has been the official currency of Somalia since 1962. Somalia was previously referred to as the Somalia Democratic Republic. The country is situated in the horn of Africa and was barely recognized by other countries. The currency symbol is Sh.So. The currency has been listed as one of the world’s worst currencies, with an incredibly high exchange rate against the US Dollar.

The Somali Shilling is the currency in Somalia (SO, SOM). The symbol for SOS can be written So Sh. The Somali Shilling is divided into 100 centesimi. The exchange rate for the Somali Shilling was last updated on May 24, 2019 from Yahoo Finance. The SOS conversion factor has 4 significant digits.

Economy

  • The economy of Somalia was extremely hampered by the civil war and the action of government officials in the 1990s, when Mahammad Said Barred was in power.
  • Agriculture and manufacturing contribute a great deal to the Somalian economy. Agricultural produce like maize, bananas, sugar, and seafood account for millions of dollars each year. Products such as pasta, plastic bags, soap, fabric aluminum are manufactured for local use as well as for export.
  • Residents and small businesses rear large numbers of sheep, goats, and cattle. Camels are also reared in areas where the environment is suitable.
  • Telecommunication is also a major contributor to economic growth in the region. Efficient and effective services are offered at low cost.

History

  • In 1921, the Shilling was made the official currency of Somalia.
  • In 1962, banknotes were distributed in denominations of 100 shillings, 20 shillings, 10 shillings, and 5 shillings.
  • In 1967, new coins were distributed with values of 50 cents, 10 cents, 5 cents, and 1 Somali shilling.
  • As a result of rising inflation, advanced additional Shilling notes were issued in denominations of 500 and 100 shilling banknotes.
  • Due to civil unrest in the country, new Shillings were issued that were equivalent to 100 of the previous Shillings.

More information about SOS - Somali Shilling (Sh.So.)