Governor of Central Bank of South Sudan Jamal Abdalla [Photo via Radio Tamazuj] JUBA – South Sudan’s central bank said Friday that it planned to ban the use of foreign currency nationwide to prevent further depreciation of the South Sudanese pound against the U.S. dollar after prices of food and other basic commodities have skyrocketed in recent weeks and months, the VOA reports. SSP to USD Money Converter. The official currency of South Sudan is the South Sudanese Pound. South Sudan said it’s seeking 250 million U. S. dollars from African Export and Import Bank (Afreximbank) to cushion the economy from disruptions occasioned by the COVID-19 pandemic. Currency Currency Import regulations: Local currency (South Sudan Pound-SSP): up to a maximum of SSP 40,000.-. The information was reported this week by the Information Minister Michael Makuei Lueth (pictured). October 9, 2020 (JUBA) — South Sudan will introduce a new currency in a bid to control the hyperinflation in the country and the collapse of the exchange rate, the government announced on Friday Must be declared on arrival and approved by the South … FILE - Banknotes are displayed on a roadside currency exchange stall along a street in Juba, Jan. 14, 2011. Jale Richard/Eye Radio Jale Richard/Eye Radio The government has resolved to change the South Sudanese Pounds with a new currency to stop hyperinflation and help recover the ailing economy. Get notified about best rates daily, for sending 500 USD from USA to South Sudan Get Rates You’ll receive only smart emails that help you save money, no spam. Banknote World offers South Sudan currency for sale to collectors looking for a piece of South Sudan. [4] [5] For a wider history surrounding currency in the region, see The History of British Currency in the Middle East . South Sudanese Pound to US Dollar Currency Rate, South Sudanese Pound to US The currency code for Dollars is USD, and the currency symbol is $. Despite this precarious situation, South Sudan plans to increase its budget by 29 percent to fund the expanded government under the peace deal, a report by Bloomberg said. Historically, the South Sudanese Pound reached an … Information Minister Michael Makuei told journalists in Juba that the council reached the resolution following proposals from local banks on how to rescue the economy. Amounts exceeding USD 10,000.- or equivalent must be declared. Currency Currency Import regulations: Local currency (Sudanese Pound-SDG): prohibited. Exchange rates are updated every 15 minutes. JUBA, Oct 9 … Currency Export regulations: Local currency The Minister of … In 2018, the Bank of South Sudan introduced a 500 South Sudanese pounds banknote to ease daily cash transactions following years of inflation. Daniel Kech Pouch, the bank's deputy governor, said late Wednesday that the pound was depreciating sharply and there was little that monetary advisers could do to arrest its fall. Currency conversion rates from U.S. Dollar to Sudanese Pound today Thu, 21 Jan 2021: convert from USD to SDG and also convert in a reverse direction. South Sudan's currency drastically depreciated against the dollar last week, just after the government announced plans to change it, an indication that more currency … Click here for collectible banknotes! South Sudan said it had reversed its plans to introduce a new currency as the pound continues to depreciate against the U. S. dollar and other major currencies due to the economic crisis. The third edition of the Sudanese pound was established on 24 July 2011 following the secession of South Sudan from the Republic of Sudan. More US Dollar info > SDG - Sudanese Pound Our currency rankings show that the most popular Sudan Pound exchange rate is the USD to SDG rate. (Reuters) (Reuters) South Sudan's cabinet has agreed to change the country's currency in order to improve the economy. It is divided into 100 units called piasters and was approved during the July 2011 secession upon approval by the legislative assembly of South Sudan. South Sudan’s Council of Ministers has approved a change of currency in an attempt to find hoarded cash it claims is aiding the economic decline. You have converted 1 USD to SSP : 0.000000.On this page you can find the latest exchange rate between US Dollar and South Sudanese Pound, results are updated every hour, for this operation we used the international currency rate: . More US Dollar info SDG - Sudanese Pound Our currency rankings show that the most popular Sudan Pound exchange rate is the USD to SDG rate. SSP USD Currency Converter. South Sudan has run out of foreign exchange reserves as oil revenues have plummeted, and it cannot stop its currency from sliding, a central bank official said. Coinage and Banknotes The Central Bank of Sudan issues the The government of South Sudan has finally discarded its plan to change the local currency. South Sudan’s government says it will soon introduce a new currency, amid serious cash shortages in the world’s youngest country. South Sudan's cabinet agreed on Friday to change the country's currency in order to improve the economy, the government spokesman said, without giving further details. The currency structure of South Sudan consists of banknotes and coins and is denoted in South Sudanese Pound (SSP). JUBA — South Sudan’s government says it will soon introduce a new currency, amid serious cash shortages in the world’s youngest country. A man from South Sudan displays new currency notes outside the Central Bank of South Sudan in Juba, on July 18, 2011. Lily Albino Akol, deputy minister of agriculture and food security, said the loan facility will be used to finance government priorities including mitigating the impact of COVID-19 on the economic sector. South Sudan Currency Converter What is the unit of money in South Sudan? A South Sudanese banknote The numismatic history of South Sudan, like that of several African countries south of the Sahara Desert, is not very extensive.Because of its geography, Islam was not spread to South Sudan by any Muslim empires or dynasties, and thus, the only currency likely used before the Egyptians arrived was commodity and coinage from other countries. Rates are based on real time exchange rates. South Sudan pound keeps on losing it value against US dollar, as of today the USD sales at 650 Ssp per dollar and the prices of the basic commodities are skyrocketing each day. The currency code for Dollars is USD, and the currency symbol is $. JUBA, Oct 9 (Reuters) - South Sudan's cabinet agreed on Friday to change the country's currency in order to improve the economy, the government spokesman said, … “The cabinet has decided that the current currency should be changed....This is to improve our economic situation,” information minister Michael Makuei Lueth told a news conference in the capital Juba following a … Foreign currencies: allowed. The Minister of Information and Communication, Michael Makuei Lueth, told reporters in Juba today after the cabinet meeting that the introduction of the new currency is designed to ease the current cash crunch. South Sudan’s economy has been ravaged by years of instability, high inflation, drops in oil production and global prices and, most recently, the COVID-19 pandemic. The USDSSP increased 0.1132 or 0.06% to 174.8228 on Thursday January 21 from 174.7096 in the previous trading session. South Sudan’s cabinet agreed on Friday to change the country’s currency in order to improve the economy, the government spokesman said, without giving further details. JUBA , SOUTH SUDAN - Business leaders in South Sudan's capital, Juba, say the government's new rule ordering all transactions Mixed Reaction to South Sudan Currency Rule Voice of America 21 Oct 2020 South Sudanese Pound to US Dollar Rate Today is £1.00SSP = $1.000USD. [15] As part of a currency redesign to reduce confusion, a 1 Pound coin was released to replace the 1 Pound banknote, and a coin for 2 Pounds has also been released at the same time as the 2 Pound banknote. After the succession of South Sudan from The Sudan in 2011, a third Sudanese pound was issued. South Sudan's cabinet agreed on Friday to change the country's currency in order to improve the economy, the government spokesman said, without giving further details. It has remained the official currency of Sudan to this day. 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