![Man (hands seen) holds sum of South Sudanese Pound in the black market in Juba [Photo by ELRHA]](https://i0.wp.com/www.sudanspost.com/wp-content/uploads/2020/09/South-Sudan-Cash-Transfer.jpg?ssl=1)
Speaking to Sudans Post this morning in Juba Town, local traders said the local currency, the Pound, has been depreciating in a rapid manner registering almost 700 South Sudanese Pound against 1 US Dollar and appealed to the government to slow down on taxes in order to help the traders in their efforts to fight the price hike.
“Now the government wants the traders to not raise the prices of the basic commodities. This is illogical because as of this morning, 1 US Dollar is sold at 695.5 South Sudanese pound in the local market and it may reach 700 in the next few hours,” the trader who identified himself as Deng said.
“Now they come with a lot of taxes. Some of the taxes are unjustifiable because some hungry city council official create taxes on their own without the legal tax that the law provides for and this is what we can condemn. We are not going to slow down on the price hike unless the government slows down on these unnecessary taxes,” the trader said.
KIIR TO REPORTEDLY TOUR MARKETS
An official at the central Equatoria state chamber of commerce separately told Sudans Post on condition of anonymity that they are hearing from senior officials that President Salva Kiir Mayardit is set to visit the markets in order to assess the prices by himself, but it remains unclear when that is happening.
“We have been told by the people up there that President Salva Kiir Mayardit, the President of the Republic of South Sudan, will visit to assess the market prices and to also hear the complains of the traders by himself,” the official said.
“But we have not been informed as to when the president is going to come. So, we are happy and we hope that this is going to happen as speculated because the president needs to be informed with the reality on the ground and by people like us who are with the people 24/7,” he added.
