Collapsing Eceonomy

Central Bank sold US$10 million at a rate of 30.2; abandoned 18.5 again!!!

Juba – A source closer to Central Bank of South Sudan has reached out to Wangdunkon Media that the Bank has recently sold $10 millions dollars at 30.2 per dollar, a rate which has recently been in use in the Black market.

“Things are quite getting worse and out of control here. the CBoSS has just sold 10 million dollars to CBs (commercial banks) at a rate of 30.2” a source who strickly asked not to be named reached out to Wangdunkon Media

Late last year, the goverment put the official rate to a floating one when the dollar by then was at 18.5,  with hope that the black market will disappear and that in a long run, prices would comes down and SSP would eventually regain its value.

Consequently, the opposite is now happening; prices of goods and commodities have gone beyond skyrocketing description; the dollar continue burying SSP in the black market and now the goverment has no choice but to catch up with the black market again.

1 reply »

  1. Well this is the second attempted coup by the Central bank, and by the way what’s the difference now between the central bank and the UNKNOWN GUNMEN?
    make a difference help me building the #yilonation aka the free South Sudan