The auctioning of the US dollars will never stabilize the market prices, the South Sudan Chamber of Commerce has warned.

The Central Bank began auctioning the foreign currency to the commercial banks after the devaluation of the pound in December last year.

The move was aimed at reconciling the parallel exchange rates, but as a result, the Pound weakened, leading to increase in prices of goods in the market.

Close to $70 million has so far been auctioned by the Central Bank.

The Secretary General of the Chamber of Commerce, Simon Akuei, told Eye Radio that the move is worsening the economy.

Mr Akuei argues that the dollar sale “makes the market prices high”.

“I don’t know why it is done if it cannot make life better,” he wondered.

Mr Akuei suspected malpractice in the dollar sale.

“Any amount of money auctioned does not bring goods. It is given to companies that are never tracked on what they do with the auctioned amount,” he added.

He stated that the government has to lower tariffs and remove road blocks to ensure prices of basic goods are stabilized.