South Sudanese Pound hits record low against US dollar

South Sudanese Pounds

The South Sudanese Pound ( SSP ) has depreciated to SSP920-948 at the Central Bank according to sources familiar with the reports. Meanwhile, the exchange rate at the Black Market has reached an alarming level with $1 equal to a staggering SSP1010 hence worsening the already challenging economic situations in the country.

The depreciation of the local currency has caused widespread fear of hikes in prices of basic goods and the cost of accessing healthcare services in the country. 

However the government has no clear plans to help ease the currency crisis in the country and called it a global crisis that is affecting the globe.