The Central Bank has dismissed media reports that it has submitted a letter to the Presidency to devaluate the South Sudanese Pound.

The Citizen newspaper had reported that the move was to manage difference between official exchange rate and the black market rate.

The Second Deputy Governor of the Central Bank, Odera Innocent Ochan, says the Central Bank has no intention to devalue the South Sudan Pound against the dollar.

“We in the Central Bank or the top management have no any idea or knowledge about the letter written to the President asking him to devalue our currency,” Ochan said. “We have no any intention of devaluation.”

Currently dollar sells at 5 pounds in the black market. While at the commercial bank, it sells at around 2.9.