Depreciation of currency and inflation make confusion in Somaliland markets

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Thursday April 13, 2017 - 15:37:11 in Wararkii u danbeeyay
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    Depreciation of currency and inflation make confusion in Somaliland markets

    HARGEISA- The main markets of Hargeisa, Waaheen and Gobanimo, were closed down in the early hours of today to protest currency depreciation that caused inflation amid severe drought.

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HARGEISA- The main markets of Hargeisa, Waaheen and Gobanimo, were closed down in the early hours of today to protest currency depreciation that caused inflation amid severe drought.

For the last couple of months Somaliland currency has been depreciating from $1=7500 Somaliland Shilling to $1=9000 Somaliland Shilling.

Somaliland use both Somaliland Shilling and US Dollar for domestic transactions.


The governor of the Central Bank said they are doing their best to solve the problem.

The police forces were deployed in Hargeisa to avert the people to make demonstration. Eye witnesses confirmed to Somaliland Daily that the police forced businesses to reopen.

The heavy police presence was felt in Hargeisa.

Three journalists covering the strike were briefly detained at Hargeisa Central Police Station.

Experts are saying the government lacks policy and strategy to address this growing economic problem.


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