BoSS Launches Currency Auction for Commercial Banks

(JUBA) – The Bank of South Sudan (BoSS) has announced the launch of a new foreign exchange auction, aimed at enhancing transparency, improving accountability and restoring confidence in the country’s financial system.

This latest move appears to be part of efforts by the central bank to stabilise the national currency and manage liquidity more effectively following persistent economic challenges.

The auction will be held on Thursday, 31 July 2025, and is open to all eligible commercial banks operating in the country. Participants are permitted to submit bids quoting their preferred exchange rate and amount.

According to the official notice from the Directorate of Banking Operations, bid submissions will take place between 9:00 AM and 10:00 AM local time, using either the Refinitiv trading platform or email for those without platform access.

All bids must be received by 10:00 AM, with evaluation and adjudication scheduled for the following hour, between 10:00 AM and 11:00 AM.

Banks with access to Refinitiv are required to submit their bids directly through the platform. Those without access must email signed and authenticated PDF versions of their bids to multiple addresses provided by the Bank.

The named recipients include senior officials within the Financial Markets Department, ensuring that submissions are received and processed promptly.

Application forms and the full set of rules and procedures for the auction can be obtained in person at the Financial Markets Department, or downloaded directly from the Bank of South Sudan’s official website.

Successful bidders will be obligated to settle their winning bids immediately by depositing physical cash into their settlement accounts at the Bank of South Sudan. Full settlement must be completed within 24 hours of the results being announced. The central bank strongly encourages winning banks to use wire transfers to their Nostro accounts as the preferred method of settlement.

This auction is one of several mechanisms being used by South Sudan’s financial authorities to stabilise the South Sudanese Pound (SSP), which has seen sustained depreciation due to limited foreign exchange inflows, oil revenue volatility and a widening trade deficit.