A 100 United States dollar note. | Photo: File

The South Sudanese pound has depreciated to a record low against the United States dollar – leaving exchange rate close to the one-thousand benchmark.

The exchange for one U.S. dollar in the Forex market is 970 South Sudanese pounds as of Thursday.

But in the Central Bank, the cost of buying one US dollar is 938 pounds while the selling price is 910 pounds.

Last week, the Central Bank raised concerns about Forex market volatility and further depreciation of the South Sudanese currency against the dollar.

In a press statement, the Bank blames the depreciation of the pound on the war in Sudan and the hiking of interest rates by the US Federal Reserve.

South Sudan has been auctioning hard currency into the market as a short-term measure to curb the depreciation of the pounds that sends prices skyrocketing.

Early in April, the Central Bank announced the auctioning of 5 million dollars, only to cancel it later, citing irregularities in the market.

The Auction Supervisory Committee endorsed the cancellation and called for punitive measures against violation of the Bank of South Sudan foreign exchange rules and procedures.