S. Sudanese Pound further weakens against U.S. dollar, now $100 trades at SSP40,000
The U.S. dollar reached a new peak on Sunday against the Sudanese pound, hitting a record of 400 pounds.
A dollar now trades at SSP400 in the black market.
The fall of the South Sudanese pound against the dollar comes as calls intensify for the firing of the Finance Minister who is struggling to save the country’s ailing economy.
Traders attributed the rise to the increasing demand against the tight supply in hard currency and some black market brokers in Juba.
One of the traders said under the cover of anonymity that traders’ fear of a decline in dollar prices will cause the cost of acquiring the standard food basket has started to rise significantly