South Sudan to circulate new currency in a week

By REUTERS
July 11, 2011 16:41

 
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JUBA - Newly independent South Sudan said on Monday it planned to roll out its new currency in a week, earlier than expected, at a one-to-one value with the north Sudan pound.

South Sudan seceded from the north on Saturday, the culmination of a 2005 peace deal that ended decades of civil war.

South Sudan Finance Minister David Deng Athorbei told reporters in the capital, Juba, the country would receive its first shipment of South Sudan pounds from a British printer on Wednesday.

The minister said it would have a one-to-one value with the existing Sudanese pound, which would keep circulating in the north. He did not elaborate on how the currency would be managed.

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