South Sudan pound plummets to record low as official dollar rate reaches SSP1006

JUBA, JULY 6, 2023 (SUDANS POST) – South Sudan’s local current plummeted to a record low on Thursday, with the dollar trading at1006 South Sudanese Pound.

This is a significant drop from the previous record low of 997 SSP, which was set in mid-June by the central bank.

Traders in Juba told Sudans Post that the black-market price of the dollar is even higher, at 1250 SSP.

They expect the price to continue to increase in the coming days.

One trader, who asked to remain anonymous, said that the depreciation of the pound is due to a number of factors, including the country’s economic crisis, and the government’s lack of transparency.

Another trader, who sells commodities at Custom market, said that he expects the price of commodities to rise in the coming days as a result of the depreciation of the pound.

“The price of everything will go up,” he said. “This is going to be very hard on people.”

The further depreciation of the pound is a major blow to the economy, which is already struggling.

It is also likely to have a negative impact on the country’s already high inflation rate.