wazua Thu, Apr 30, 2026
Welcome Guest Search | Active Topics | Log In

2 Pages12>
South Sudan Pound
Options
Previous Topic · Next Topic
deadpoet
#1 Posted : Tuesday, July 19, 2011 12:51:23 PM
Rank: Member

Joined: 9/27/2006
Posts: 506
Fellow Wazuans, South Sudan's new currency begins circulation this week. Now, for all you currency/forex gurus amongst you, would it be 'wise'to purchase that currency now? I mean, South Sudan apparently has the 3rd largest oil fields in Africa, so my reasoning is that as oil prices go up, the currency will strengthen. Sound reasoning? The idea would be to buy now and sit on them maybe for a couple of years.
Back to top
  |
FUNKY
#2 Posted : Tuesday, July 19, 2011 1:00:01 PM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
What is the exchange rate currently of KES and South Sudan Pound?
Back to top
  |
deadpoet
#3 Posted : Tuesday, July 19, 2011 1:14:12 PM
Rank: Member

Joined: 9/27/2006
Posts: 506
Right now its based on the existing Sudanese currency - i.e. the new South Sudan pound is the same as the Sudanese pound. But don't know the exact rate right now
Back to top
  |
Sober
#4 Posted : Thursday, July 21, 2011 8:39:26 PM
Rank: Elder

Joined: 11/27/2007
Posts: 3,604
Because we are the superpower they have been associating with, i propose they start with 1pound=1KES then they figure out ahead.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
Back to top
  |
B
#5 Posted : Thursday, July 21, 2011 10:26:38 PM
Rank: Member

Joined: 12/16/2006
Posts: 14
1 Sudanese Pound is equivalent to Ksh 30 ie 1sdg=ksh 30 Their currency may stil b strong . Look at the oil revenue as @ Dec 2010; stood at $11.1 million @ 500,000b/d with a projection of 715,000b/d by 2013. Consider also that 70% of oil wells r in South. Sudan has expansive arable land the Equatorial n with lots of resources if well exploited. So far Sudan is exporting hot cake Equatorial Teak to India and China. E&OE
Bgan
Back to top
  |
Cde Monomotapa
#6 Posted : Friday, July 22, 2011 3:15:40 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Sober wrote:
Because we are the superpower they have been associating with, i propose they start with 1pound=1KES then they figure out ahead.
smile
Back to top
  |
deadpoet
#7 Posted : Monday, July 25, 2011 11:04:01 AM
Rank: Member

Joined: 9/27/2006
Posts: 506
So 30 bob? Okay, so if the new currency rises by say 3 shillings in a year (which is modest), we can get a 10% return? Seems good to me.
Back to top
  |
Mo
#8 Posted : Friday, July 29, 2011 4:16:19 PM
Rank: Member

Joined: 9/21/2007
Posts: 326
The challenge with the new south pound is that it currently is pegged at 1:1 with the north pound. The north is hoever hell bent on destroying the south economy and has also introduced a new north pound and rendered worthless any former pound outside the north territory. This leaves the south with a usd 700m of worthless currency. The situation is further complicated because the north is claiming usd22 for every southern barrel of oil going through the north pipes; this leaves the south with only 20% of the oil revenue. The new south pound to the dollar is a very specualtive game.
Speak your truth quietly and clearly; and listen to others, even the dull and the ignorant; they too have their story.
Back to top
  |
harrydre
#9 Posted : Tuesday, March 08, 2016 11:55:48 PM
Rank: Elder

Joined: 7/10/2008
Posts: 9,131
Location: Kanjo
Back to top
  |
simonkabz
#10 Posted : Tuesday, September 04, 2018 9:51:45 AM
Rank: Elder

Joined: 3/2/2007
Posts: 8,776
Location: Cameroon
harrydre wrote:
http://www.businessdailyafrica.com/Corporate-News/Kenyan-banks-lose-Sh12-7bn-in-South-Sudan/-/539550/3108538/-/11h5w24z/-/index.html iko shida!
I have a relative whose KSh 10m equivalent in SSP deposits in Juba were reduced to less than 50k equivalent and still going down.
TULIA.........UFUNZWE!
Back to top
  |
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.