South Sudan is low on hard currency reserves to meet the demands of the region, especially US dollars that became very expensive.
Elijah Malok, who heads the Bank of Southern Sudan (BoSS), told the press today that there is a huge demand for US Dollars for rehabilitation works of infrastructure, including roads, houses and schools, and paying medical bills and travel expenses for officials.Mr. Malok blamed the high price of the dollar on North Sudan and East African traders
He said traders from the north smuggle dollars in and sell them at high rates while East African traders need dollars to send their profits home.
Mr. Malok said it was illegal to sell the dollar at 3.20 Sudanese pounds like many money exchangers do.
He made these statements at the GoSS Ministry of Information’s Media Forum.