SOS to XCD

SOS - Somali Shilling (S)
XCD - East Caribbean Dollar ($)
1 SOS1 XCD

Currency conversion rates from SOS to XCD

SOSXCD
1 SOS1 XCD
5 SOS5 XCD
10 SOS10 XCD
20 SOS20 XCD
50 SOS50 XCD
100 SOS100 XCD
250 SOS250 XCD
500 SOS500 XCD
1000 SOS1000 XCD
2000 SOS2000 XCD
5000 SOS5000 XCD
10000 SOS10000 XCD
XCDSOS
1 XCD1 SOS
5 XCD5 SOS
10 XCD10 SOS
20 XCD20 SOS
50 XCD50 SOS
100 XCD100 SOS
250 XCD250 SOS
500 XCD500 SOS
1000 XCD1000 SOS
2000 XCD2000 SOS
5000 XCD5000 SOS
10000 XCD10000 SOS

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.)


XCD - East Caribbean Dollar ($)

East Caribbean Dollar

The East Caribbean dollar is the currency used in eight of the nine nations in the Organisation of Eastern Caribbean States — Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Anguilla (UK Territory), and Montserrat (UK Territory). The British Virgin Islands is the only member of the OECS that uses its own currency. The East Caribbean Dollar is designated by EC$ and has been pegged to the US Dollar at US$1 = EC$2.70 since 1976.

The East Caribbean Dollar is the currency in Antigua and Barbuda (AG, ATG), Dominica (DM, DMA), Grenada (GD, GRD), Saint Kitts and Nevis (KN, KNA), Saint Lucia (LC, LCA), and Saint Vincent and the Grenadines (VC, VCT). The symbol for XCD can be written EC$. The East Caribbean Dollar is divided into 100 cents. The exchange rate for the East Caribbean Dollar was last updated on May 24, 2019 from Yahoo Finance. The XCD conversion factor has 2 significant digits.

Economy

  • The economies of the OECS member states vary significantly, but most of them rely upon tourism and agriculture to varying extents. Offshore banking also represents a large proportion of the GDP for several of the OECS nations.
  • Many of the islands are home to multinational corporations, typically in financial services, who have large offices in a few of the OECS nations to take advantage of low or no taxation.
  • As the member states are small island nations, they are heavily reliant upon imports. Exportation is relatively limited, though some of the nations do export agricultural products such as bananas, and cocoa.

History

  • Prior to 1965, OECS members were part of the West Indies Federation, using BWI$ as their currency. However many members of the WIF either did not adopt the BWI$. Trinidad and Tobago withdrew from the union in 1964, leading to a lack of support for the BWI$.
  • In 1965, the British West Indies Dollar was replaced at par by the East Caribbean Dollar.
  • In 1966, British Guiana withdrew from the currency union, and in 1972, Barbados also withdrew from the currency union.
  • Between 1965 and 1983, the Eastern Caribbean Currency Authority issued the EC$, with notes and coins from 1965 from 1981.
  • The Eastern Caribbean Central Bank, based in Basseterre, Saint Kitts and Nevis was created by the Eastern Caribbean Central Bank Agreement signed in Port of Spain on July 5, 1983.

More information about XCD - East Caribbean Dollar ($)