(JUBA) – The Bank of South Sudan (BoSS) has released the results of its latest weekly foreign exchange auction conducted on 7 August 2025, showing continued strong demand for US dollars from the country’s commercial banking sector.
According to the Financial Markets Department of the central bank, a total of 14 bids were submitted by participating banks, amounting to a combined request of $10.1 million. However, only 9 of these bids were successful, and the total amount awarded was $2.5 million – the full cover amount offered by the BoSS for this auction.
The bid-to-cover ratio stood at 4.04, indicating that the amount of dollars demanded was more than four times the amount available. This highlights the continued pressure on the foreign exchange market and the high appetite for US dollars in the country.
A significant amount of local currency was absorbed from the market through this auction. The Bank of South Sudan reported that it mopped up SSP 13,721,834,520 from the market. Based on the official exchange rate of $1 = SSP 4,600, this liquidity amounts to approximately $2,983,006. This absorption is part of the central bank’s efforts to manage inflation and stabilise the exchange rate.
The auction also revealed a competitive pricing environment among banks. The highest bid submitted was SSP 5,499.99 per dollar, while the lowest was SSP 5,469.00. The weighted average exchange rate among successful bids was SSP 5,487.27.
Below is a summary of the key statistics from the auction:
| Item | Value |
|---|---|
| Total USD Offered | $2,500,000.00 |
| Total USD Bids Received | $10,100,000.00 |
| Number of Bids Submitted | 14 |
| Number of Successful Bids | 9 |
| Number of Unsuccessful Bids | 5 |
| Total USD Awarded | $2,500,000.00 |
| Total SSP Mopped Up | SSP 13,721,834,520.00 |
| Equivalent in USD | $2,983,006.42 |
| Highest Bid Rate | SSP 5,499.99 per USD |
| Lowest Bid Rate | SSP 5,469.00 per USD |
| Weighted Average Rate (Successful) | SSP 5,487.27 per USD |
| Bid-to-Cover Ratio | 4.04 |
This auction is part of the Central Bank’s ongoing initiative to supply limited foreign currency into the official market to support importers and ensure availability of essential goods, while also managing excess liquidity in the economy.
The Bank of South Sudan has been conducting weekly auctions to ensure transparent allocation of foreign currency and discourage reliance on the parallel market, which continues to show significantly higher rates. The current official rate is pegged at SSP 4,600 per dollar, although bid rates in auctions suggest greater demand and devaluation pressure.
