South Sudanese pound

South Sudanese pound
South Sudanese SSP 1 note
ISO 4217
CodeSSP (numeric: 728)
Subunit0.01
Denominations
Subunit
 1⁄100Piaster
BanknotesSSP 1, SSP 5, SSP 10, SSP 20, SSP 25, SSP 50, SSP 100, SSP 500, and SSP 1,000
CoinsSSP 0.10, SSP 0.20, SSP 0.50, SSP 1, and SSP 2 [1]
Demographics
User(s) South Sudan
Issuance
Central bankBank of South Sudan[2]
Valuation
Inflation40.2%
 SourceIMF (2023)
 MethodCPI

The South Sudanese pound (ISO code and abbreviation: SSP[3]) is the currency of the Republic of South Sudan. It is subdivided into 100 piasters. It was approved by the Southern Sudan Legislative Assembly before secession on 9 July 2011 from Sudan.[4]

Banner in Juba announcing the conversion from the Sudanese pound (SDG) to the new currency the South Sudanese pound (SSP)

It was introduced on 18 July 2011, and replaced the Sudanese pound at par.[5] On 1 September 2011, the Sudanese pound ceased to be legal tender in South Sudan.

On October 8, 2020, due to rapid depreciation of the South Sudanese pound's exchange rate with the United States dollar, South Sudan announced that it would soon change its currency.[6][7]

  1. ^ Quartz Africa 8 July 2015 Four Years in, the world's newest country, South Sudan, introduces its first coins https://qz.com/africa/447398/four-years-in-the-worlds-newest-country-south-sudan-introduces-its-first-coins/
  2. ^ Adaku Samuel. "South Sudan To Issue New Currency On July 9". Juba Post. Archived from the original on 17 July 2011. Retrieved 10 July 2011.
  3. ^ "Introduction of SSP1000 banknotes into circulation - Bank of South Sudan". boss.gov.ss. 9 February 2021.
  4. ^ SSLA endorses national anthem and coat of arms. 26 May 2011 Archived 31 July 2011 at the Wayback Machine
  5. ^ "South Sudan Pound released July 18". Archived from the original on 25 January 2012.
  6. ^ "South Sudan to change currency to improve economy - government spokesman". Reuters. 10 October 2020. Retrieved 10 October 2020.
  7. ^ "South Sudan plans to change national currency to shore up economy - Xinhua | English.news.cn". www.xinhuanet.com. Retrieved 10 October 2020.