South Sudanese pound
South Sudanese pound | |
---|---|
ISO 4217 | |
Code | SSP |
Denominations | |
Subunit | |
1/100 | Piaster |
Symbol | SS£[1] |
Banknotes | 5pt, 10pt, 25pt,[2] SS£1, SS£5, SS£10, SS£20, SS£25, SS£50, SS£100, SS£500, and SS£1,000 |
Coins | 10pt, 20pt, 50pt, SS£1, and SS£2 [3][citation needed] |
Demographics | |
User(s) | South Sudan |
Issuance | |
Central bank | Bank of South Sudan[4] |
Valuation | |
Inflation | 476% |
Source | https://www.cia.gov/the-world-factbook/countries/south-sudan/ 2016 |
The South Sudanese pound (ISO 4217 code: SSP) is the official 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.[5]
It was introduced on 18 July 2011, and replaced the Sudanese pound at par.[6]
On October 8, 2020, due to rapid depreciation of the South Sudanese pound to the United States dollar, South Sudan announced that it will soon change its currency.[7][8]
Banknote designs[]
The banknotes feature the image of John Garang de Mabior, the deceased leader of South Sudan's independence movement.[9]
Six different denominations (SS£1, SS£5, SS£10, SS£25, SS£50, SS£100 and SS£200) in the form of banknotes have been confirmed, and five denominations (1pt, 5pt, 10pt, 25pt and 50pt) will be issued in the form of coins.[10][11]
Three new banknotes for 5pt, 10pt, and 25pt were issued 19 October 2011.[12]
The first circulation coins of the South Sudanese pound denominated in 10pt, 20pt, and 50pt were issued 9 July 2015, on occasion of the fourth anniversary of independence from Sudan.[13]
In 2016, the Bank of South Sudan issued a SS£20 banknote to replace the SS£25 note.[14] In 2018, the Bank of South Sudan introduced a SS£500 banknote to ease daily cash transactions following years of inflation.[15]
As part of a currency redesign to reduce confusion, a SS£1 coin was released to replace the SS£1 banknote, and a coin for SS£2 has also been released at the same time as the SS£2 banknote.[16][17] The 10, 20 and 100 pound notes were all redesigned.[16]
In November 2016 the Governor of the Bank of South Sudan issued a statement dismissing as false reports claiming that the bank was printing new notes in denominations of SS£200, SS£500 and SS£1,000.[18]
Banknotes of the South Sudanese pound | ||||
---|---|---|---|---|
Images | Value | Obverse | Reverse | Watermark |
[1] | 5pt | Dr. John Garang de Mabior | Ostrich | The Flag of South Sudan in repeated rows and Dr. John Garang de Mabior on the right front of the note |
[2] | 10pt | Kudu | ||
[3] | 25pt | River Nile | ||
[4] | SS£1 | Giraffes | Dr. John Garang de Mabior and an electrotype 1 | |
[5] | SS£5 | Sanga cattle | Dr. John Garang de Mabior and an electrotype 5 | |
[6] | SS£10 | Buffaloes; pineapple | Dr. John Garang de Mabior and an electrotype 10 | |
[7] | SS£20 | Oryx antelopes; oil derrick | Dr. John Garang de Mabior and an electrotype 20 | |
[8] | SS£50 | Elephants | Dr. John Garang de Mabior and an electrotype 50 | |
[9] | SS£100 | Lion; waterfall | Dr. John Garang de Mabior and an electrotype 100 | |
[10] | SS£500 | River Nile | Dr. John Garang de Mabior and an electrotype 500 | |
SS£1,000 | Ostriches | Dr. John Garang de Mabior and an electrotype 1000 |
Coins[]
Coins denominated 10, 20, and 50 Piasters were put into circulation on 9 July 2015 (South Sudanese Independence Day).[19] As of 2016, South Sudan's coins are being struck at the South African Mint.[17]
Bimetallic coins denominated 1 Pound and 2 Pounds have been put into circulation during 2016.[16]
The Coat of arms of South Sudan with the country name 'REPUBLIC OF SOUTH SUDAN' and the date will appear on the obverses. The various coins will include the following:[20]
- 10pt - Copper-plated Steel - Oil rig.
- 20pt - Brass-plated Steel - Shoebill stork.
- 50pt - Nickel-plated Steel - Northern white rhino.
- SS£1 - Bronze-plated Steel centre / Nickel-plated Steel ring - Nubian giraffe.
- SS£2 - Nickel-plated Steel centre / Bronze-plated Steel ring - African Shield.
Exchange rates[]
As of 23 February 2021, the commercial exchange rate is 177.37 South Sudanese pounds (SSP) per U.S. dollar, and the more widely available parallel market exchange rate in Juba is 630 SSP per U.S. dollar.[21]
References[]
- ^ https://qz.com/africa/447398/four-years-in-the-worlds-newest-country-south-sudan-introduces-its-first-coins/
- ^ "South Sudan new piaster notes (B101 - B103) confirmed". Banknote News. Retrieved 17 November 2011.
- ^ http://www.worldbcnews.com/newissues/newissues.html
- ^ 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.
- ^ SSLA endorses national anthem and coat of arms. 26 May 2011 Archived 31 July 2011 at the Wayback Machine
- ^ "South Sudan Pound released July 18". Archived from the original on 25 January 2012.
- ^ Reuters Staff (10 October 2020). "South Sudan to change currency to improve economy - government spokesman". Reuters. Retrieved 10 October 2020.
- ^ "South Sudan plans to change national currency to shore up economy - Xinhua | English.news.cn". www.xinhuanet.com. Retrieved 10 October 2020.
- ^ "South Sudan pound to be launched next week". BBC News. 11 July 2011. Retrieved 11 July 2011.
- ^ South Sudan Pound to be released by Monday - Government of South Sudan official website. Published 12 July 2011. Retrieved 13 July 2011.
- ^ South Sudan issued new pound notes 18 July 2011, BanknoteNews.com. Retrieved on 5 September 2011.
- ^ Linzmayer, Owen (2012). "South Sudan". The Banknote Book. San Francisco, California: Banknote News.
- ^ World’s Newest Country Issues Circulation Coins on National Independence Day Coin Update (news.coinupdate.com). 10 July 2015. Retrieved on 13 July 2015.
- ^ South Sudan new 20-pound note (B111) confirmed BanknoteNews.com. 22 April 2016. Retrieved on 22 April 2016.
- ^ South Sudan new 500-pound note (B116) reported Banknote News (banknotenews.com). 15 June 2018. Retrieved on 16 June 2018.
- ^ Jump up to: a b c Ofori-Atta, Prince. "South Sudan introduces new bank notes | East & Horn Africa". www.theafricareport.com. Retrieved 31 October 2016.
- ^ Jump up to: a b "2 Pounds 2016, South Sudan | Catalog | CoinBrothers". coin-brothers.com. Retrieved 31 October 2016.
- ^ "S. Sudan bank governor denies introducing new bank note". Sudan Tribune. 26 November 2016. Retrieved 27 November 2016.
- ^ "South Sudan government to introduce coins on Independence Day". Sudan Tribune. 8 July 2015. Retrieved 4 August 2015.
- ^ "World's Newest Country Issues Circulation Coins on National Independence Day | Coin Update". news.coinupdate.com. Retrieved 31 October 2016.
- ^ "CLIMIS | Dashboard". climis-southsudan.org. Retrieved 23 February 2021.
External links[]
Current SSP exchange rates | |
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From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD |
From OANDA: | AUD CAD CHF EUR GBP HKD JPY USD |
From fxtop.com: | AUD CAD CHF EUR GBP HKD JPY USD |
- ISO 4217
- Currencies of Africa
- Circulating currencies
- Pound (currency)
- Currencies introduced in 2011
- 2011 in South Sudan
- 2015 in South Sudan
- Economy of South Sudan