INSIDE THE MONEY MARKETS OF AFRICA - SOMALILAND - YouTube

I'm Paramvir. Today is 2nd January, 2021.

Second day of this year.

Tomorrow I've my fight to Dubai.

This will be a short video.

In this video I'll show you the money markets of Hargeisa where different currencies are exchanged on the street.

Somaliland shilling is very weak compared to other currencies.

$1= ~ 8500 Somaliland shilling.

Ans 1 INR = ~ 112 Somaliland shilling.

People carry very less amount of cash. Almost no ATMs. You can't pay by cards...

Here, people mostly pay by E-payment mode.

I've already made a video on that.

Today, I'll show you how to exchange cash here.

You will see how vendors keep huge piles of cash on the streets.

No one tries to take any money from those piles as they now that that it is not of any worth.

I'll not exchange just $10-$20 to show you how it goes.

We'll see how many notes of Somaliland shilling we get.

And how the market functions...

Let's go...

I guess this is the downtown.

Few tourists that come here, stays in this area.

From here we can to the market where currencies are exchanged.

This is the road.

They have kept in on the road.

Laid all over the road side.

Khat(narcotic plant) shops.

They have just kept it outside.

This one is a note of 1000 Somaliland Shilling, that one is of 500 Somaliland Shilling.

The highest value note is of 5000 Somaliland Shilling.

So, I'm exchanging $10 with the 500 Somaliland Shilling notes.

I will get around 170 notes of 500 Somaliland Shilling

which will be

85,000 Somaliland Shilling.

You will shops like this all over this road.

On both side of road.

There's on guy selling Khat too.

This bundle of cash just for $10.

In INR, it is just 750.00 Rupees.

I feel like a millionaire.

Just $10.

I'll use this to buy meals for needy.

I have some more Somaliland Shilling and USD so I'll spend them too to buy meals.

Here they accept USD too.

Now we are going to a shop from where we can buy food

for these kids who need it.

I wanted to do something for them, that's why I got this money exchanged.

I've some more Somaliland Shillings and USDs.

Here they accept USD too.

Will buy food by this money.

See the bundles.

This guy has covered the money piles.

I see these money piles everywhere here...

You will this type of shop all over this place.

Here's one more...

There are many shops on the roadside as you can see.

I'm just amazed looking at all this money.

and some more...

some more...

One more...

They have tied the money in a net.

Some people just

keep their money in open, without covering.

All of them have unique style of storing these notes.

Like this guy has kept his notes in a cabinet.

This has also kept his money covered.

You will find these type of shoe stalls like in India.

There is a grocery store and some general stores.

Another grocery store.

Seeing this money in my hand some people started following me and wanted some of it.

This is the shop from where we will get the meals packed for needy people.

This contains rice and a curry on it....

and then some fried fish on the top.

Rice + Curry + Fried Fish.

So this was today's video, "Money Market of Somaliland" or

"Streets of Hargeisa to exchange currency".

You saw how all the money was just keep outside on the roadside.

Still no body tries to steal it.

You get so much cash in exchange for few Dollars.

I got my money exchanged and will be using it to buy food for the needy.

I've got 15-20 meals packed and will give to the people roaming hungry on the roads.