Money Market Hargeisa
By: The PH Team
Somaliland is an unrecognized country in the Horn of Africa, internationally recognized as part of Somalia.
Although unrecognized, Somaliland is home to its own government, military, judicial system and even its own unrecognized currency - the Somaliland Shilling!
Hargeisa is the capital of this unrecognized country. During Somaliland's war of independence, the city was almost completely brought to rubble and has since been rebuilt.
Home to roughly 760,000 inhabitants, Hargeisa is Somaliland's most populous city and its primary economic hub.
The Somaliland Shilling
The Somaliland Shilling is the unrecognized currency of Somaliland. Since Somaliland is not recognized by the international community, the country's currency has no value outside of Somaliland's borders.
Within the country however, it is the primary and official currency of this unrecognized country.
Hargeisa Money Market
For travellers who wish to exchange their foreign currency into local Somaliland Shillings, there is no better place than the money market in Hargeisa, of course.
This is where local registered vendors come to trade Somaliland Shillings on the open market. Currencies from many Western countries can be traded into local currency at current market prices.
It should be noted, a little foreign currency goes a long way in Somaliland and a small sum will amount to a huge amount of cash, probably too much to fit in one's pockets.
As such, locals generally only use cash for micro-payments. Most purchases are made through cellphone payments, also in Somaliland Shillings.