The Bank of South Sudan announced today that the new currency, the South Sudan Pound, will be in circulation by next week.
Elijah Malok, who heads the Bank of South Sudan, showed the new South Sudan Pound to the press this morning.
On the front it features the image of the late John Garang.
On the reverse side the new pound notes have images of South Sudan’s culture and wealth.
The notes also have watermarks and other security measures.
Mr. Majok said the pound will be out in the next few days and it will have the same value of the Sudanese Pound.
He added that the international exchange rate for the new South Sudan currency will be discussed later in the month.
The Sudanese Pound will stay in use until arrangement are agreed with Sudan.
Analysts say that setting up a national currency and getting it established on the international stage is essential to South Sudan’s hopes of economic stability.