500 South Sudanese Pound banknote to be operational soon: govt
June 10th 2018 (Nyamilepedia) – South Sudan government announced in a Friday statement that the Central Bank will issue a new 500 banknote to help ease the burden people have to carry on their shoulder when going for shopping.
The 500 banknote will be the highest among the current ones.
There is 1, 2, 5, 10,20, 25, 50 and 100 Pounds including 10, 20 and 50 piasters in the South Sudan currency system, however, as the economy continue to collapse and the inflation rises, South Sudanese have to carry money in big bags to go to market to buy something as little as a bread.
The current official rate for the United States Dollar is equal to 300 pounds per $1 and in the black Market, it is traded at 330 per $1 USD as of this morning.
South Sudan descended into civil war in December 2013 after forces loyal to the country’s president, Salva Kiir Mayardiit and his then Governor of Northern Bahr Al-Ghazal State Gen. Paul Malong Awan went door-to-door in the capital Juba killing civilians belonging to the Nuer ethnic group sparking a nation-wide protests from top army generals from the Nuer leading to a civil war.
A peace agreement signed in August 2015 by President Kiir and rebel leader Riek Machar and negotiated under the auspices of the Intergovernmental Authority on Development (IGAD) and the African Union (AU) in presence of Troika and other international observers collapsed in July 2016 following fighting at the presidential palace in Juba “J1” reportedly after President Kiir ordered a failed attempt to arrest the SPLM-IO leader Riek Machar.
A peace revitalization plan collapsed last month after the IGAD unveil a peace proposal that seek to divide power between dozens South Sudan opposition group and the government with three vice-presidents.