19Dec

South Sudan Currency Devalued 84% After Unpegging From Dollar

South Sudan's currrency dropped 84% on Tuesday as the central bank freed the South Sudanese pound to trade at black market prices several times the official rate.

The Bank of South Sudan noted in a statement: “All foreign exchange business shall be transacted at market determined exchange rate”.


South Sudan's central bank adopted parallel market rate
Surrendering to prices charged in the black market, Sign up here

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Author

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

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