BOSS Opens Dollar Auction for Eligible Banks/PHOTO CREDITS: BoSS Portal
(JUBA) – The Bank of South Sudan (BoSS) has announced it will conduct a foreign exchange auction for eligible commercial banks on Monday, 4 August 2025, as part of ongoing efforts to improve transparency and restore trust in the country’s financial system.
According to the Central Bank’s Financial Markets Department, the auction will allow qualifying banks to bid for US Dollars by quoting both the amount and exchange rate they are willing to offer. The process is designed to be open and competitive, helping establish a more reliable exchange rate and encouraging fair access to foreign currency in a market where demand continues to outpace supply.
The Bank states that the auction is intended to “enhance transparency, accountability, and restore confidence in the financial system,” a key priority as the country faces rising inflation, exchange rate pressure and limited foreign reserves.
Auction details are as follows:
| Auction Item | Details |
|---|---|
| Auction Date | Monday, 4 August 2025 |
| Bid Submission Time | 9:00 AM to 10:00 AM |
| Adjudication Period | 10:00 AM to 11:00 AM |
| Eligible Participants | Registered commercial banks only |
| Currency Offered | United States Dollars (USD) |
Application forms and detailed auction rules are available from the Front Office Division of the Financial Markets Department at the BOSS headquarters in Juba during normal working hours. These documents are also accessible for download from the Central Bank’s official website.
A strict settlement policy is in place. All successful bidders must deposit the full value of their purchase in physical South Sudanese Pounds (SSP) into their settlement accounts at the Bank of South Sudan immediately after the results are announced. Final payment must be completed within 24 hours, using wire transfer to the Central Bank’s Nostro account, which is the preferred method.
The move comes at a time when foreign exchange scarcity has contributed to market instability, pushing traders and importers toward informal markets and increasing pressure on prices. A successful and transparent auction could help ease that pressure and reduce reliance on parallel market rates.
Although limited in scope, this auction represents a practical step toward improving financial discipline in South Sudan. Experts say that if BOSS maintains regular and predictable foreign exchange operations, this could encourage more confidence in both the banking sector and the country’s broader economic policies.
For further inquiries, BOSS has directed commercial banks to contact the Financial Markets Department for clarification and technical support.
This auction forms part of the Central Bank’s broader monetary policy aimed at guiding exchange rates through market based mechanisms while ensuring sufficient supply of foreign currency to legitimate banking channels. BOSS says it aims to align official rates more closely with actual market demand by allowing commercial banks to quote their own rates.
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