Close Menu
    What's Hot

    Somaliland President off for an official visit to Djibouti

    Soccer icon Nwankwo Kanu promises to help Somaliland footballers achieve their dreams

    Irro meets Finland envoy to Somaliland, discuss development issues

    Facebook X (Twitter) Instagram
    Buy SmartMag Now
    • Demos
    • Politics
    • Politics
    • Buy Now
    • Buy Now
    • Demos
    Facebook X (Twitter) Instagram
    Somaliland Reporter
    • Home
    • Features
    • Category
    • Politics
    Subscribe
    Somaliland Reporter
    Home » Central Bank removes 12 b SL/Shs from exchange markets in bid to strenghthen the local currency
    News

    Central Bank removes 12 b SL/Shs from exchange markets in bid to strenghthen the local currency

    SL ReporterBy SL ReporterNovember 21, 2023No Comments2 Mins Read
    Share Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Copy Link
    Follow Us
    Google News Flipboard
    Share
    Facebook Twitter LinkedIn Pinterest Email Copy Link

    The Central Bank of the Republic of Somaliland, which is continuing the operation to stabilize the Somaliland shilling, has y withdrawn from the country’s foreign exchange markets about 12 billion Somaliland shillings which were surplus in the currency and exchange markets.

    The continuous steps taken by the central bank of Somaliland to inject the hard currency into the market so far has had the bank manage to raise the value of the Somaliland shilling by 4.5 percent.

    The operation was led by some central bank officials which was carried out in the central market of the capital Hargeysa.

    Some of the people who were at the place and at the same time being served in the exchange markets and some of the money changers have welcomed these steps taken by the central bank of the Republic of Somaliland in strengthening the value of the shilling.

    They urged the general business fraternity to be patriotic and use the local currency extensively and chided those who needlessly hike prices of basic commodities hastily.

    bank of Somaliland share with the community, and at the same time clarify the exchange rate whether it is the front hand or the back hand

    “The inflation is ending, because they brought a lot of money to the market from the Central Bank, we are the ambassadors of the bank and we are working with them, traders and warehouses, we have sustainable market prices that are kind to the community”, they said.

    Follow on Google News Follow on Flipboard
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Copy Link
    Previous ArticleSSC-Khatumo leader calls for peaceful coexistence with Somaliland
    Next Article UN invites Somaliland to attend climate change conference (COP28)
    SL Reporter

    Related Posts

    Somaliland President off for an official visit to Djibouti

    May 21, 2025

    Soccer icon Nwankwo Kanu promises to help Somaliland footballers achieve their dreams

    May 21, 2025

    Irro meets Finland envoy to Somaliland, discuss development issues

    May 21, 2025
    Add A Comment

    Comments are closed.

    Advertisement
    Demo
    Latest Posts

    Somaliland President off for an official visit to Djibouti

    Soccer icon Nwankwo Kanu promises to help Somaliland footballers achieve their dreams

    Irro meets Finland envoy to Somaliland, discuss development issues

    Somaliland and Las’anod talks set to begin in Djibouti

    Trending Posts

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 ThemeSphere. Designed by ThemeSphere.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.