The Council of Ministers in its meeting on Friday co-chaired by President Salva Kiir Mayardit and Vice President James Wani Igga decided immediate closure of black market of currencies along city and town streets in the country.
National Cabinet Affairs Minister Martin Elia Lomurö told the media that any culprit caught in hard currency black market in streets would face the law.
He added that the cabinet questioned Central Bank mismanagement of hard currencies appearing in black markets instead of commercial banks and foreign exchange bureaus.
Dr Elia dismissed media statement that Central Bank devaluated South Sudanese Pounds by 50 percent describing it a trade in rumours.
He explained that local currency devaluation was only discussed, but no final decision was taken on whether to implement it or not.
The Minister said the cabinet expressed concerns about rising commodities’ prices affecting the nation.