Pound weakens against dollar

Author : | Published: Monday, February 29, 2016

The South Sudanese pound has weakened further against the US dollars.

At the parallel market, the rate has risen to a record low of 3,600 pounds for $100.

This followed a similar change in the exchange rates at the Central bank.

On Friday, the bank sold the hard currency to commercial banks at a rate of 3,050 pounds against 100 US dollars.

But black market dealers say there is a continuing scarcity of the hard currency in the market.

“When you look at the dollar that is coming out from the commercial banks, it passes through several stages and the number of people and anyone puts his profit,” said a dealer who requested anonymity.

Government officials are yet to comment.

Support Eye Radio, the first independent radio broadcaster of news, information & entertainment in South Sudan.

Make a monthly or a one off contribution.

error: Alert: Content is protected !!