South Sudan moves to debase money

South Sudan moves to debase money

South Sudan's national bank has surrendered its official conversion scale of 2.95 South Sudanese pounds to the US dollar.

Keeping up that level has ended up being excessively troublesome for the bank as the money has consistently degraded since freedom and the informal rate was more like 16 to the dollar today, Reuters news organization reports.

The BBC Africa business manager Matthew Davies says that as an oil exporter the economy has been hard hit by the decrease  in oil costs and the common war,which broke out precisely two years back.