A foot for thought

Dollar rate is unstable

Anna Nimiriano Editor in Chief Juba Monitor

Yesterday it was published in the newspaper that the rate of dollar had dropped in the black market, that is to say, one dollar was trading at 450 South Sudanese Pounds (SSP), and 100 USD was 45,000 SSP in the black market. It was in the information gathered on 27th of this month published on 28th of the same month. On the following day which was the 28th of April 2021, the rate increased to 470, SSP per one dollar, 100 USD was 47,000 SSP. That means the rate of dollar is not stable. As traders didn’t reduce prices of items in the market.

This made many people to wonder as to why traders are still keeping market very high yet the rate of dollar had dropped from 600 per- one dollar.  Changing of rate every day is not helping the citizens improve their daily conditions. If it is continuing dropping, there will be hope for the people that eventually prices of items will come down in the market.However, people are concerned on prices of items. As people are getting food on daily bases in the market, they need changes as soon as possible. It is not easy to survive with the economic crisis in the country.

It is the responsibility of the government to observe the market since the dollars are being providedby the Central bank to the ForexBureaus. The increment of dollars on daily bases does not bring hope on the reduction of prices in the markets. Some traders complained that they didn’t get dollars provided by the Central Bank. They are still buying in the black market. Let their complaint be considered by the authorities. The other reason they said was that the current items were purchased when the rate of dollar was still high.

In this situation, citizens are victims because they are the ones suffering due to high cost of items in the market. The increment of dollars is an indication that the market will not be stable in the near future. Government should make sure that from the existing rate, let it not increase.It is like the expectation of people is still not met in this regards. People had suffered for many years due to skyrocketing prices in the market especially during the Covid-19 pandemic.

May God bless us all.

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