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Traders warned against capitalizing on exchange rate

Author : | Published: Wednesday, March 29, 2017

The Chairperson of South Sudan Chamber of Commerce, Industry, and Agriculture has warned businesspeople against taking advantage of the economic crisis by inflating market prices.

Benjamin Bol Mel says business people should stop using the high exchange rate to raise prices of goods. US dollar is selling at around 130 pounds this week.

The rate of the foreign currency has been fluctuating since the Central Bank and the Ministry of Finance left it floating with demand and supply in 2015.

Since then, the prices of commodities have also been varying.

Mr. Bol told the media that any businessperson who is found unlawfully increasing prices will face justice.

“For sure I’ve to be honest with you; some businesspeople are taking advantage of this situation and we realized that they are those we need to take care of security-wise,” Mr Bol said.

Mr Bol says all state business chairperson across the country should report any inflation in the market prices.

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