South Sudan has announced the introduction of a new banknote with a larger denomination to cope with hyperinflation which shows no signs of slowing.
At a press conference in Juba Tuesday morning, Central Bank Governor Dier Tong Ngor said a new Pound bill of 1000 will start to circulate as a way to make transactions more efficient.
Until now, the biggest denomination in the country was 500 South Sudanese Pounds.
The bank governor said the move to introduce the new Pound bill of 1000 aims to mitigate runaway inflation and a perpetual depreciation of the currency which has eroded the face value currency in the recent past.
source : radiotamazuj
