Many S.Sudanese with well paying jobs are purchasing in US -Dollars, neglecting the SSP

US DOLLAR BILL 100US DOLLAR BILL($ 100)

So many of the South Sudanese with well paying jobs have resolved into purchasing or trading in dollars as their preferred currency.

The purchasing or trading which should be done in South Sudanese Pounds is shifted to dollar-deals of paying for goods or services in foreign currency. Most buyers prefer to ask the prices of goods and services in US-Dollars instead of the home currency which is the South Sudanese pound. They later pay for the goods in US-Dollars instead of the Pound.

This practice is however mainly carried out in Juba and it is highly contributing to degrading of the South Sudanese Pound. Many firms in Juba are also paying their clients or employees in US Dollar.

The reason as to why the working class decided to use dollars is thought and said as a result of bulkiness and less value of the South Sudanese Pound.

Some also use dollars in businesses which involve transactions or negotiation with a foreign agent or company. After carrying out such negative trading decision which injures the pounds, most would also cross borders and converse in a business language of which they use or ask the prices of goods or services in dollars, yet in foreign countries.

South Sudan has been rocked with steady inflation that collapsed the country’s economy since last year. The prices of goods and services are almost unaffordable in South Sudanese pounds. This is one reason given by a SUK – JUBA trader who spoke to Ramciel Broadcasting in the mid morning hours.

In an attempt to revive the economy, the South Sudan’s Central Bank introduced 1000 denomination two weeks ago which is light weight. This means that it has a power to reduce the bulkiness of the present denominations. The break down was put forth to help curb the economic inflation as well.

But according to experts, the introduction of the highest denomination in the land will not help solve the economic crisis in South Sudan.

 

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