Ibrahim Nor, Mohamed
(2015)
The Volatility Of Somalia’s Unregulated
Exchange Rates.
PhD thesis, Universiti Sains Malaysia.
Abstract
Sistem kewangan dan mata wang negara (Shiling Somalia) dahulunya stabil dan
kukuh.Walau bagaimanapun, Shilling Somalia mula merudum selepas 1980-an, dan
akhirnya tersungur ke tahap yang teruk.Kerajaan pusat negara Somalia runtuh pada
tahun 1990 selepas tiga dekad menikmati kestabilan ekonomi dan sosial. Berikutan
kegagalan itu, mata wang tersebut terus didagangkan tanpa kawalan kerajaan.
Pasaran tukaran mata wang asing tempatan pula beroperasi tanpa seliaan mana-mana
pihak.Walaupun rakyat Somalia berurus niaga mata wang dalam pasaran tersebut, ia
dikritik kerana tidak memiliki asas pasaran tukaran dagangan. Semasa tempoh
kemunduran ini, nilai Shiling mengalami fenomena ketidakaturan yang tidak boleh
dijangka, lebih-lebih lagi pada tahun 1997, 2001, 2008, dan 2011
Historically, the monetary system of Somalia was stable and its national currency
(Somali Shilling) had very strong value but Somali shilling started to depreciate after
1980s and its value reached to a very low level. Somalia’s central government
collapsed in 1990 following three decades of stability. Following the collapse of the
government, the national currency continued to circulate without sovereign support
and the country’s FX market has been operating without regulation. Though Somali
people have been using this FX market, the market is criticized of not having the
basic foundations of an FX market. During this period, the value of the Shilling
experienced unpredictable volatility in particular in 1997, 2001, 2008, and 2011.
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