; Somali: shilin; Arabic: شلن; Italian: scellino; ISO 4217: SOS) is the official currency of Somalia.
Rival producers of the local currency, including autonomous regional entities such as the Puntland territory,[5] subsequently emerged.
These currencies included the Na shilling, which failed to gain widespread acceptance, and the Balweyn I and II, forgeries of pre-1991 bank notes.
Consumers also refused to accept bills larger than the 1991 denominations, which helped to stop devaluation from spiraling further upwards.
Dollarization notwithstanding, the large issuance of the Somali shilling increasingly fueled price hikes, especially for low-value transactions.
[7] With a significant improvement in local security, Somali expatriates began returning to the country for investment opportunities.
Coupled with modest foreign investment, the inflow of funds helped the Somali shilling increase considerably in value.
[8] The United States dollar is still the main currency used in Somalia, with it being most prolific in electronic payments using SMS like EVC Plus.