Central bank denies ending dollar auctions meant to stabilize exchange rate

JUBA — South Sudan’s central bank has denied reports that it has halted the foreign currency auctioning program which it has been undergoing to avert collapse of the country’s economy.

This comes days after the bank’s governor, Dier Tong Ngor, was quoted by section of the media as saying that the bank has achieved its motives and was halting the foreign currency auctions to local banks.

In a statement seen by Sudans Post, the bank said “it is maintaining the foreign exchange auctions to safeguard the recent gains of South Sudan pound against US dollar.”

It also denied reports that the money allocated to the foreign exchange auctions has finished and said media houses should “should have rightfully quoted the Governor of Central Bank, Hon. Dier Tong Ngor.”

“The governor stated clearly beyond the reasonable doubt that the foreign exchange auctions would continue unabated until the goal is achieved,” it adds.

“On Tuesday, the governor announced at the press conference that the multiple exchange rates have been unified to stabilise the market and keep the parallel market at bay.”