The dollar has retreated against the South Sudanese Pounds after President Kiir took charge of the policies determining the exchange rate. In a serious crack down in the black market, after $100 was being traded at 71, 000 – 77,000, SSP gained massively.
This evening the exchange rate has hit $100 : 41,000 SSP
“The dollar has reduced to 41, 000 Pounds after the president said it should reduce” said a black market trader at Suk Juba in juba.
Following wrangles and misunderstanding within the cabinet over the policies of economic change, President Kiir called for extraordinary meeting and the results are taking shape but there is something that is yet to be controlled and that is hyperinflation.
“The price of dollar has reduced but the prices of the commodities are still the same” he added