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Official decree on Hiran business community expected to be implemented

Storyline:National News

Hiran administration decree on the trade crisis in the region is expected to be put into effect in Beledweyne town by accepting Somali shillings as the medium of exchange in business dealings.

The decree also states that rate of exchange of Somali shillings to the US dollar must return to its usual rate and stiff penalty will be upon any trader who exchanges money on a different rate.

Earlier the local traders refused to accept Somali shilling as the legal tender for business money which adversely affected the residents especially the poor.

This follows when counterfeit money was allegedly seen flooding the local market which led to sudden rise of inflation and the traders refused to accept the Somali shillings due to unreliable turbulence of fluctuation.

This morning most of business premises in the town are still closed and a meeting took place between the local administration and the local business community but no change took place about the situation of the economic crisis.