South Sudan economy: Pound continue to gain strength against dollar

United States Dollars (File photo)
United States Dollars (File photo)

July 28th 2018 (Nyamilepedia) – South Sudan’s Pound has continue to strengthen against the United States Dollar since the country’s Kiir and opposition leader Dr. Riek Machar Teny-Dhurgon signed a permanent ceasefire agreement in the Sudanese capital Khartoum last month.

Several Juba residents told the Nyamilepedia this afternoon that the United States Dollar is losing against the country’s Pound from 360 in May to 120 today. the residents cited progress in talks in the neighboring Sudan.

“The dollar is losing ground in Juba today. Now the one United States Dollar is 120 South Sudanese pound that means the 100 United States Dollar is 12, 000 South Sudanese pounds.

Another resident said they expect the dollar to weaken further as the South Sudanese parties are set to sign a peace agreement negotiated by Sudanese government in the capital Khartoum on August 5th.

“I think the dollar will lower more than today because only a ceasefire was signed by Kiir and Riek, this time when the two sign the full peace, I think the rate will drop further after the signing which is said to be on 5th of August 2018,” the resident told the Nyamilepedia on the condition of anonymity.

South Sudan’s Central Bank Governor vowed on Friday to make sure that the United States dollar drop to the lower price ever during a meeting with the South Sudanese president in the state house, in Juba.

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