Bundle of US dollars. (Courtesy).

The Bank of South Sudan on Tuesday announced the auctioning of US dollars to commercial banks and Forex bureaus as the South Sudanese Pounds continue to weaken against US dollars.

According to a circular issued yesterday by Bank’s Directorate of Currency and Banking, the first amount to be auctioned is five million US dollars.

The circular says the auction process will be governed by the Bank Foreign Exchange Auction rules and procedures.

The Central banks says 3 million US dollars will be sold to commercial banks, while 2 million US dollars to Forex bureaus.

As of today, May 9, 2023 one dollars sells at about 906 in the parallel black market while in the official rate is roughly 920 South Sudanese pounds.

In February, the bank of South Sudan auctioned three million US dollars to commercial banks and two million US dollars to Forex Bureaus.