Argentine Peso in Somali Shilling

ARS Argentine Peso

Country of application:
Argentina

Coin denominations in circulation:
10, 20, 50, 100, 200, 500, 1000 pesos.

Denominations of banknotes in circulation:
1, 2, 5, 10 pesos.

History reference:
Currency abbreviation or currency symbol for the Argentine nuevo peso (ARS), the currency for Argentina. The Argentine song Nuevo was first seen in 1992 when it replaced the australium in the convers...ion of 1 peso to 10,000 australia. Other names for the currency include peso convertible and nuevo peso convertible. The Argentine Nuevo Peso was pegged to the US dollar from 1 peso to one dollar form from 1992 to 2001. In 2002, the peso floated and devalued by about 75%, helping to improve export competitiveness. The export boom led to a massive influx of US dollars into the Argentine economy, which led to the stabilization of the national currency. Some time later, the Central Bank announced support for a strategy to keep the exchange rate between 2.90 and 3.10 pesos to the US dollar in order to maintain export competitiveness. When necessary, the Central Bank prints pesos and buys dollars on the free market (sometimes in large quantities, in the order of 10 to 100 million US dollars a day) to protect the peso from inflation, 27,000 million US dollars have accumulated in the vaults of the Central Bank, despite spending $9,810 million in payment to the IMF in January 2006.

SOS Somali Shilling

Country of application:
Somalia

Coin denominations in circulation:
-

Denominations of banknotes in circulation:
1000 shillings.

History reference:
The Somali shilling is the currency of the Federal Republic of Somalia. On the territory of Italian Somalia, the Indian rupee, the Maria Theresa thaler and the Eritrean thaler were in circulation, in... 1910-1925 the Italians issued the rupee of Italian Somalia. On July 1, 1925, it was replaced by the Somali lira, and when Italian Somalia was included in Italian East Africa, the East African Italian lira, which circulated along with the Italian lira. The civil war in Somalia in 1991 led to the formation of the self-proclaimed state of Somaliland. On October 18, 1994, the Somaliland government issues the Somaliland shilling, which lasted only 4 months until January 31, 1995, which was exchanged at the rate of 100 Somali shillings for 1 Somaliland shilling. In addition to Somali shillings, American dollars, euros, Egyptian and Sudanese pounds, and Mauritian rupees are used in circulation in the country.