With a view to restore order and boost confidence in the money markets, the Bank of South Sudan (BoSS) on 15th December 2015 dropped the fixed exchange rate regime in favor of the floating system in which the value of the South Sudanese Pound against USD is determined by the prevailing market forces. This effectively devalued the currency overnight with the official rate moving from the previous SSP/USD 2.96 to 18.5, the then going rate…
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