Dier Tong Ngor, newly appointed Finance Minister sworn in on Friday. | Photo: Office of the President.

The new Minister of Finance and Planning Dier Tong Ngor has taken oath of office at the State House J1, on Friday.

President Salva Kiir presided over the swearing ceremony that was also attended by top government officials and administered by Chief Justice Chan Reec Madut.

Dier Tong was appointed late on Thursday as replacement for Agak Acuil Lual.

Agak was fired by President Kiir on the same day, with the Bank Governor Moses Makur Deng.

No reason was provided for the reshuffle.

However, the decree came at a time when the country is battling an economic crisis that has sent prices skyrocketing.

As of Friday, the South Sudanese pound was trading at 686 per dollar at the central bank and more than 700 per dollar on the parallel market on Friday.

The rate has risen from about 400 per dollar two months ago.

Before his appointment as Finance Minister, Dier Tong had served twice as Governor of the Central Bank.

President Kiir then fired him as Central Bank Governor in January this year.