South Sudan abandons US dollar for local currency

South Sudan abandons US dollar for local currency

South Sudan abandons US dollar for local currency

South Sudan’s government has suspended the use of the US dollar and instead directed all transactions be executed in the local currency.

Most transactions in the country are carried out using the US dollar, largely due to hyperinflation and the volatility of the local currency. However, the Bank of South Sudan has banned the use of the greenback and directed that all commercial contracts be signed in the local currency.

For more information, please see https://www.theeastafrican.co.ke/tea/news/east-africa/south-sudan-abandons-us-dollar-4119662

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