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Business tension abated in Beledweyne says Hiran administration

Storyline:National News

Deadlock in business activities is said to be addressed in Beledweyne town and resumption of normalcy in the market is in place according to Hiran administration.

The Director for Social Affairs of Hiran region Sheikh Husein Osman Ali said there are continuous talks between Hiran administration and the local business community.

“Today the situation is good compared to the last 2 days. There are talks between the administration and the traders including traditional elders. Our ultimate aim was the Somali shilling to be in circulation again” said Sheikh Husein.

Allegation of fake money flooding the town and sudden rise of exchange rate of the US dollar to the local Somali currency led to market instability and total closure of business dealings in Beledweyne town for the last 2 days.

The money that brought the present chaos was earlier banned but was later accepted to be used through compromise with the local business traders.

For the 3rd day there is a disarray in the markets of Beledweyne town as a result of the refusal of the Somali shillings as the medium of trade exchange.