South Sudan: South Sudan Limits Dollar Sales as Oil Exports Fall

Nov 28, 2014 | Carl Odera, Reuters
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South Sudan has issued new rules banning the trade of dollars in the black market and restricting the sale of hard currency at foreign exchange bureaus, as the country struggles with a shortage of dollars due to falling oil exports.

South Sudan's oil exports have fallen by more than a third since fighting between ethnic groups erupted last December, leaving the country, which seceded from Sudan in 2011, short of dollars and struggling to pay for the food and other imports that it depends upon.

Plummeting oil prices, which have lost more than a third of their value since June, are aggravating the situation.