Decree on local traders by Hiran Administration

Hiran Administration released a ruling on the new sudden inflation on the exchange rate of the US dollar to the Somali shillings.

This follows when counterfeit money was seen flooding the local market.

Speaking to Goobjoog News the Secretary of Hiran Administration Abdulle Noor Guure said there is a feeling of increased rate of foreign money exchange and ordered the money dealers not to cross the limit set for exchange rate.

Normally US$100 used to be exchanged to the Somali shillings at 3 million and any trader that will not abide by this rate will face the full wrath of the Law according to Secretary Abdulle.

“Speaking on behalf of the Hiran Administration, I am ordering the traders not to cross the old exchange rate. External flood of money is reported to be in town which led to price increase. We have an appointment with the traders. Stiff penalty will be upon any trader who exchanges money on a different rate” said Secretary Abdulle.

Large of amount of fake Somali shillings are believed to be coming into the local markets in Hiran region that started big inflation and immensely affected food price and money exchange rate.