South Sudan’s currency gains strength against US dollar – traders

South Sudan currency (File photo)

August 20th 2019 (Nyamilepedia) – South Sudan’s Pound (SSP) is gaining strength against the United States Dollar (USD) according to black market traders who spoke to Nyamilepedia this morning.

The Dollar is losing momentum against the [South Sudanese] Pound. Since two months ago, there has been decline from the Dollar strength,” the source told the Nyamilepedia from Juba Market.

Another source said “the Dollar is traded at 250 in Juba and 245 in Bentiu as of this morning.”

South Sudan descended into civil war in December 2013 leading to a hug negative impact on the economy of the world’s youngest nation after several oilfields were forced to close because they were contested by the government and armed opposition groups.

Following the signing of the revitalized peace agreement in September 2018, the South Sudanese Pound briefly caught strength against US dollar before losing momentum weeks later.

Advertisements

Leave a Reply