29th October 2020
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Traders close shops in Rumbek over exchange rate

Author: Priscah Akol | Published: Thursday, October 15, 2020

A past picture of Rumbek market | Credit | Exploring The Land

Traders have closed down shops in Rumbek main market amidst the ailing economy.

This came after rate of US dollar against South Sudanese pounds skyrocketed over the last few days.

According to Daniel Laat Kon, a human rights advocate, 100 US dollar sold at 58,000 SSP in Rumbek.

This, he said, led to hike in the market prices.

“The shops are all closed, especially shops selling food items and most of the fuel stations,” Laat told Eye Radio on Wednesday.

He called upon the government to address the economic situation, which has affected markets across the country, including the state capital, Juba.

In Juba, black market dealers have blamed the great loss of South Sudanese pound against US dollar on the recent decision to change the currency.

Dealers say people want to change their money into US dollars to avoid any loss when the new currency is introduced.

The government should at least try to see the suffering of the people. If the shops for all food items are closed down, it is not good,” Laat added.

Last Friday, the cabinet resolved that the South Sudanese Pounds should be changed to stop hyperinflation and help recover the ailing economy.

The decision was reached during a cabinet meeting chaired by President Salva Kiir.

The South Sudanese Pounds has been depreciating drastically following the drop of the country’s oil revenues and irregularities in the collection of non-oil revenue.

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