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South Sudan devalues currency by 34 pct

Posted on 13 November 2013

South Sudan has devalued its pound currency against the dollar by 34 percent to bring it onto a par with the black market rate, a move that risks fanning inflation.
South Sudan has had a currency problem ever since it gained independence from Sudan in July 2011. Its oil exports have been disrupted by disputes with Khartoum, as well as by endemic corruption, leaving it struggling to pay for the food and other imports that it depends upon………………………………………..Full Article: Source


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