{"id":387,"date":"2024-03-29T12:40:59","date_gmt":"2024-03-29T12:40:59","guid":{"rendered":"https:\/\/www.toritmonitor.com\/?p=387"},"modified":"2024-11-08T09:17:52","modified_gmt":"2024-11-08T09:17:52","slug":"central-bank-to-intervene-in-fx-market-as-pound-weakens-against-usd","status":"publish","type":"post","link":"https:\/\/toritmonitor.com\/?p=387","title":{"rendered":"South Sudan: Central Bank to intervene in FX market as pound weakens against USD"},"content":{"rendered":"\n<p>The <a href=\"http:\/\/www.boss.gov.ss\/\" target=\"_blank\" rel=\"noreferrer noopener\">Bank of South Sudan<\/a> in a press release on Friday says it has adopted measures to take action in Forex market with a monetary policy to strengthen a weaking pound.<\/p>\n\n\n\n<p>Bank&#8217;s Governor, Dr. James Alic, who issued the <a href=\"https:\/\/drive.google.com\/file\/d\/1phWZXWrx0vfUXKgMaQ-rE1Q5EOQ7Qg6i\/view?usp=drive_link\" target=\"_blank\" rel=\"noreferrer noopener\">statement<\/a> says central bank has mobilized a enough Forex resources to immediately intervene in the market.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The Bank has taken proactive measures and mobilized sufficient FX resources to intervene in the market with immediate effect,&#8221; reads part of the <a href=\"https:\/\/drive.google.com\/file\/d\/1phWZXWrx0vfUXKgMaQ-rE1Q5EOQ7Qg6i\/view?usp=drive_link\" target=\"_blank\" rel=\"noreferrer noopener\">statement<\/a>.<\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The Bank has also adopted measures to intervene in the FX market with a monetary policy rate that strengthens South Sudan pound through a weekly auction of FX at a revised Bank&#8217;s reference rate,&#8221; it adds.<\/p>\n<\/blockquote>\n\n\n\n<p>The bank decision comes as inflation has piled serious pressure on the economy with pound trading very low against foreign currencies both in the banks and in black markets.<\/p>\n\n\n\n<p>The exchange rate in central bank stands at 1603 per dollar against pounds when selling, while 1556 per dollar against pounds when buying on Thursday.<\/p>\n\n\n\n<p>However, in the bank markets around Juba streets and private Forex bureau 1 dollar trades at  around 220 South Sudanese pounds as of Thursday, but on Friday it has reduced to around 190 in black markets.<\/p>\n\n\n\n<p>Prices of commodities in the markets and fuels have shot up highly as a result of un ending inflation meanwhile government employees have stayed more than four months without receiving their salaries. <\/p>\n\n\n\n<p>On Thursday, the Ministry of Finance announced release of one month salary in the coming weeks while the rest will follow.<\/p>\n\n\n\n<p>The bank of South Sudan on the hand says it has adopted necessary measures to promote transparency, enhance liquidity, and maintain a fair and an orderly market environment including regulatory oversight.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prices of commodities in the markets and fuels have shot up highly as a result of un ending inflation meanwhile government employees have stayed more than four months without receiving their salaries. <\/p>\n","protected":false},"author":1,"featured_media":379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,62,61,8],"tags":[70],"class_list":["post-387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-national-news","category-news","category-trending","tag-economy"],"_links":{"self":[{"href":"https:\/\/toritmonitor.com\/index.php?rest_route=\/wp\/v2\/posts\/387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/toritmonitor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/toritmonitor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/toritmonitor.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/toritmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=387"}],"version-history":[{"count":6,"href":"https:\/\/toritmonitor.com\/index.php?rest_route=\/wp\/v2\/posts\/387\/revisions"}],"predecessor-version":[{"id":451,"href":"https:\/\/toritmonitor.com\/index.php?rest_route=\/wp\/v2\/posts\/387\/revisions\/451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/toritmonitor.com\/index.php?rest_route=\/wp\/v2\/media\/379"}],"wp:attachment":[{"href":"https:\/\/toritmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/toritmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/toritmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}