(JUBA) – The Central Bank of South Sudan has announced that it will conduct a foreign exchange auction for eligible commercial banks on Wednesday, 20 August 2025, in Juba. The initiative is part of efforts to enhance transparency, accountability and confidence in the country’s financial system.
The auction will allow commercial banks to submit bids quoting their preferred exchange rates and amounts. According to the Financial Markets Department of the central bank, bid submissions will open at 9:00 am and close at 10:00 am. The adjudication process will run from 10:00 am to 11:00 am on the same day.
Banks with access to the Refinitiv trading platform will be able to submit bids directly online. Those without access must submit authenticated and signed bid forms by email to the designated officials at the Bank of South Sudan.
Application forms and the rules and procedures for the auction are available at the Front Office Division of the Financial Markets Department and can also be downloaded from the Bank of South Sudan website.
The central bank has also issued strict requirements for settlement. Successful bidders will be required to deposit physical cash into their settlement accounts at the Bank of South Sudan immediately.
Full settlement must be completed within 24 hours of the announcement of results. The bank strongly recommends the use of Nostro accounts for wire transfers as the preferred settlement method.
The Bank of South Sudan emphasised that the move is designed to strengthen the country’s financial institutions and provide stability to the exchange market at a time when South Sudan’s economy continues to face challenges linked to declining oil revenues and regional instability.
At the official exchange rate in August 2025, one US dollar is equal to 4,600 South Sudanese Pounds (SSP).
| Auction Details | Information |
|---|---|
| Auction Date | Wednesday, 20 August 2025 |
| Bid Submission Window | 9:00 am – 10:00 am |
| Submission Deadline | 10:00 am |
| Adjudication Period | 10:00 am – 11:00 am |
| Settlement Requirement | Physical cash deposit into accounts at BoSS |
| Settlement Deadline | Within 24 hours of auction result |
| Exchange Rate (August 2025) | 1 USD = 4,600 SSP |
How a Foreign Exchange Auction Works in South Sudan
A foreign exchange auction is a process where the central bank sells foreign currency, usually US dollars, to commercial banks. Instead of setting a fixed rate, banks are invited to bid by offering the rate and amount they are willing to pay. The central bank then decides which bids to accept.
This system is often used in countries with unstable currencies to bring more fairness and transparency to the market. It helps avoid hidden or unofficial deals and ensures that banks, businesses, and ultimately the public can access dollars in a structured manner.
For South Sudan, the auction is particularly important. The economy depends on imports for food, fuel, and essential goods, which are all priced in dollars. By holding auctions, the Bank of South Sudan aims to stabilise the exchange rate, protect the value of the South Sudanese Pound, and ensure that dollars are distributed more evenly among banks.
The success of such auctions depends on timely settlement of payments and consistent participation from banks. If implemented well, the process can reduce pressure on the black market, lower inflation, and help restore public confidence in the banking sector.