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It was introduced on 18 July 2011, and replaced the Sudanese pound at par. [5] On 1 September 2011, the Sudanese pound ceased to be legal tender in South Sudan. On October 8, 2020, due to rapid depreciation of the South Sudanese pound's exchange rate with the United States dollar, South Sudan announced that it would soon change its currency. [6 ...
The Sudanese pound was devalued on 23 February 2021, with the official (indicative) exchange rate set to LS 375.08 per US dollar (from the fixed rate of LS 55), closing the gap between the commercial and black market exchange rates. [9] [10] [11] In July 2024, the Sudanese pound depreciated to LS 2100 per US dollar in the parallel market. [12]
The declining agricultural production and the reliance on expensive foreign food supplies have contributed to a severe food shortage in South Sudan. Around 2.7 million South Sudanese will need food aid in 2012 according to the United Nations' food programme. [25] The government has begun to address the issue of agriculture and food security.
Prior to 9 July 2011, when South Sudan attained independence, banking operations in the country were controlled and governed by the Bank of Sudan based in Khartoum. The Sudanese central bank operated branches in South Sudan in the cities of Juba, Wau, and Malakal. The legal tender was the Sudanese Pound.
The Bank of South Sudan (BoSS) is the central bank of the Republic of South Sudan.Established in July 2011, by an Act of Parliament (The Bank of South Sudan Act, 2011), it replaced the now defunct Bank of Southern Sudan, a former branch of the Bank of Sudan, [3] which had served as the central bank of South Sudan, during the period between February 2005 until July 2011.
Sudan’s top military general held talks in Juba Monday with South Sudan's president on his second trip abroad since the war in his country started earlier this year. Gen. Abdel-Fattah Burhan ...
The dinar replaced the first Sudanese pound (SDP) on June 8, 1992, at a rate of SD 1 = £S.10. On January 10, 2007, a second Sudanese pound (SDG) was introduced at a rate of 1 pound = 100 dinars. According to the Bank of Sudan , the dinar was to have stopped circulating after a six-month transitional period.
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