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South Sudan to introduce coins on independence day

June 07, 2015 (JUBA) – South Sudan is set to unveil its first-ever coins into the market during the fourth independence anniversary on 9 July, a government official disclosed.

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South Sudan Pounds (ST)

Cabinet affairs minister, Martin Ellia Lomoro told reporters that the council of ministers approved what the ministry of finance and central bank officials had presented last week.

“The introduced coins range from denominations of 50, 20 and 10 piasters," he said.

Presently, the South Sudanese pound units are in form of one, five, 10, 25, 50 and 100 dominations, restricting buyers to quantity purchase of items like nails and razor blaze.

Lomoro said the introduction of these coins would enable traders relax their prices.

“So I think it is another milestone that the council of minister had on Friday,” he said, though that could not certainly change the souring prices of items in the market, as the South Sudanese currency continues losing value against the United States dollar ($).

The coins, Lomoro said, would have symbols representing the Greater Equatoria, Upper Nile and Bahr Al Ghazal regions, unlike the current notes with the potrait of the late South Sudanese leader and founder of the Sudan Peoples Liberation Movement (SPLM) party.

(ST)