Bank Of South Sudan to pour $10 Million into the Market in a bid to stabilize Skyrocketing exchange rate.

US dollar and the South Sudanese Pound

The Bank Of South Sudan  has announced a major plan to auction ten millions US dollar into the local market next week in an attempt to normalize what it calls ' Skyrocketing exchange rate '. 

The South Sudanese Pound has weakened against the dollar since Independence with $1 currently trading at over 1000SSP. The crisis has affected locals making it difficult for most families to afford basic items in the market as prices have increased. 

Central Bank Governor , Johnny Damian Ohisa addressed journalists in Juba stating that the public should not panic because the government has enough hard currency reserves to tackle the current inflation in the market.