• TERMS OF USE
  • PRIVACY POLICY
  • ETHICS COMMITTEE
  • SUBMITTING AN ARTICLE
Wednesday, March 22, 2023
Sudans Post
  • HOME
  • NEWS
    • SOUTH SUDAN
    • SUDAN
    • REGION
  • EDUCATION
  • CORONAVIRUS PANDEMIC
  • PRESS RELEASES
  • OPINIONS & ANALYSIS
  • ABOUT US
  • CONTACT US
  • عربي
No Result
View All Result
  • HOME
  • NEWS
    • SOUTH SUDAN
    • SUDAN
    • REGION
  • EDUCATION
  • CORONAVIRUS PANDEMIC
  • PRESS RELEASES
  • OPINIONS & ANALYSIS
  • ABOUT US
  • CONTACT US
  • عربي
No Result
View All Result
Sudans Post
No Result
View All Result

South Sudan central bank to inject $5M into economy amid plummeting currency

South Sudan’s central bank announced on Tuesday that it will inject at least 5 million US dollars into the country’s economy in an attempt to rescue plummeting local currency.

4 weeks ago
Reading Time: 2 mins read
South Sudan Central Bank Logo (Photo via BoSS)
South Sudan Central Bank Logo (Photo via BoSS)

JUBA, FEBRUARY 21st 2023 (SUDANS POST) – South Sudan’s central bank announced on Tuesday that it will inject at least 5 million US dollars into the country’s economy in an attempt to rescue plummeting local currency.

In circulars posted to its social media accounts, the bank said separate auctioning of $2 and $3 million will take place on Thursday.

“The bank of South Sudan intends to sell US dollars: 2,000,000 (USD Two Million Only) to eligible forex bureaus through an auctioning to be held on Thursday, 23rd February 2023,” the bank said in the one of the circulars seen by Sudans Post.

Another circular promised 3 more million dollars on the same day, further stating that the “auctioning process will be governed by Bank of South Sudan Foreign Exchange Auction Rules and Procedures.”

DEPRECIATING CURRENCY

The announcement by the Central Bank comes a week after dollar rate jumped to more than 800 pounds in the parallel market.

1 US dollar is currently being sold at 776 South Sudanese Pound rate at the central bank.

Traders last week expressed fears that 1 US dollar may rise to 1000 South Sudanese pound by next week if the government do not pour enough dollars into the market.

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)

Related Posts

Chairperson of Jonglei Civil Society Network (JCSN) and Executive Director of INTREPID South Sudan (ISS) Bol Deng Bol. [Photo courtesy]

Activist urges Peter Lam to apologize and resign over controversial remarks

SPLM Secretary for External Affairs Bol Makueng speaks to reporters during a press conference held at the SPLM House in Juba on Tuesday, 21, March 2023 [Photo by Sudans Post]

Kiir ally claims Machar, Cirilo, Malong and Pagan are responsible for ethnic violence

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Sudans Post

Sudans Post is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Sudan, South Sudan and East Africa, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the two countries and the region.

SUDANS POST

  • ABOUT US
  • CONTACT US
  • ETHICS COMMITTEE
  • PRIVACY POLICY
  • SUBMITTING AN ARTICLE
  • TERMS OF USE

RECENT NEWS

  • Activist urges Peter Lam to apologize and resign over controversial remarks
  • Kiir ally claims Machar, Cirilo, Malong and Pagan are responsible for ethnic violence

SUBSCRIBE TO SUDANS POST

Get the news delivered right into your inbox and subscribe!

Loading
  • PRIVACY POLICY
  • TERMS OF USE
  • ETHICS COMMITTEE
  • SUBMITTING AN ARTICLE

Copyright © 2019–2021 Sudans Post - All rights reserved.

No Result
View All Result
  • HOME
  • NEWS
    • SOUTH SUDAN
    • SUDAN
    • REGION
  • EDUCATION
  • CORONAVIRUS PANDEMIC
  • PRESS RELEASES
  • OPINIONS & ANALYSIS
  • ABOUT US
  • CONTACT US
  • عربي

Copyright © 2019–2021 Sudans Post - All rights reserved.