South Sudan To Introduce Small Denomination Notes And Coins

After South Sudan gained its independence in July 2011, the government introduced its own currency, the South Sudan Pounds ousting the Sudanese currency. [Gurtong | File]

Koryom said on Eye Radio that the move comes because small denomination paper notes have proven unpopular.

“Many people did not want it-[the small notes]. They said it cannot buy anything; you need to accumulate a lot of it so that you can be able to buy something,” Koryom said.

“They are created for those who will buy needles, those who will buy shirt buttons, those who will buy tobacco and so many other things,” Koryom added.

He however could not state when the coins will be out in market.

After South Sudan gained its independence in July 2011, the government introduced its own currency, the South Sudan Pounds ousting the Sudanese currency then on use, Pounds.

Official notes launched by the President Salva Kiir a month after the independence at the Central Bank were introduced ranging from 1, 5, 10, 25, 50 and 100 notes.

A note of 5 piaster was introduced but then not allowed for use by the Bank.

The new plan followed complains also raised by some citizens over the absence of small notes to buy items not worth 1 South Sudan Pounds.

Koryom said the smaller coins will continue to help people buy essential commodities of all prices.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


Confirm you are not a spammer! *