Somalia: Puntland traders have rejected shillings in the markets

File Photo/Somali Times

The latest concerns have been raised again this morning over the exchange rate in Garowe, the administrative of Puntland, with reports that traders have rejected the Somali shilling exchange, which has recently been the subject of much public outcry. Shops, restaurants and all businesses are denominated in Somali shillings, and basic food and services are sold in US dollars.

The situation in the Garowe markets and other towns is dire, with residents saying it has had a devastating effect on the poor, who cannot afford to buy in dollars, especially those who work in Somali shillings.

The Puntland administration has not yet commented on the matter, and President Deni and other Puntland officials Aran-Jaan have reiterated that they will address the widespread problem of the exchange rate, with some businesses that people are pushing the issue further. Most of the people living in Puntland cities such as Bosaso Garowe, And the whole region, are facing the most disadvantages.