{"id":1875,"date":"2022-06-13T18:39:59","date_gmt":"2022-06-13T18:39:59","guid":{"rendered":"https:\/\/business.mulembenation.co.ke\/terms\/ssp\/"},"modified":"2022-08-29T14:18:47","modified_gmt":"2022-08-29T14:18:47","slug":"ssp","status":"publish","type":"glossary","link":"https:\/\/mulembenation.co.ke\/business\/terms\/ssp\/","title":{"rendered":"SSP"},"content":{"rendered":"

SSP<\/span> refers to the South Sudanese Pound. Learn more<\/p>\n\n\n\n

About SSP – South Sudanese Pound<\/h2>\n\n\n\n

The South Sudanese pound is the currency of South Sudan. It was introduced on 1 January 2011, replacing the Sudanese pound at par. The ISO 4217 code for the South Sudanese pound is SSP, and it is subdivided into 100 cents. The South Sudanese pound replaced the US dollar as legal tender on 4 April 2011, when South Sudan became an independent nation.<\/p>\n\n\n\n

Value of South Sudanese Pound<\/h3>\n\n\n\n

A study conducted by the World Bank revealed that the South Sudanese pound has been losing value over time, and this is due to a variety of factors. The main cause for the currency’s devaluation is inflation, which is caused by more expensive food imports and higher wages.<\/p>\n\n\n\n

The South Sudanese pound has lost more than half its value since it was introduced in 2011. The currency has been weakened by political unrest and civil war, which have made it difficult for businesses to operate and exchange money. The study found that while there are several factors contributing to this depreciation<\/span>, “the most important driver of currency depreciation is inflation.”<\/p>\n\n\n\n

Quick Facts on South Sudan<\/h2>\n\n\n\n