South Sudan: South Sudan Devalues Its Currency by 50 Percent

Oct 2, 2014 | Prof. Dr. Wolfgang H. Thome, eTurboNews
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South Sudan’s Central Bank has finally faced reality when they devalued the currency from the unsustainable rate of 2.96 SSP (South Sudan Pounds) versus one US Dollar to the prevailing black market rate of 4.50, effective immediately. It was also learned that the Central Bank has now attached agents to each licensed foreign exchange bureau to ensure that all currency transactions are properly recorded and the foreign currency turned into the Central Bank coffers.