South Sudan’s central bank has issued a new order aimed at curbing the illegal sale of dollars on the black market, amid rising inflation.
The bank order imposes restrictions on the sale of hard currency by foreign exchange bureaus. It requires the bureaus to sell only to those buyers who can produce documents showing why they need the dollars.
For instance, the buyers must produce documents showing that they require medical treatment, need to pay school fees, require cash for foreign travel, or have family living abroad in need of financial support.
The order came into effect Thursday.
Central Bank Governor Kornelio Mayik has also said that dollar sales must only be in bulk of at least $2,000, without elaborating.
He did not say what the penalties would be for violation of the new regulations.
Related:
South Sudan importers discouraged by dollar scarcity (27 Sept.)
Lawmakers call for investigation of South Sudan Central Bank (8 Sept.)