Furthermore, domestic interest rates, which have traditionally followed the path of U.S. rates, have recently gone their own way, with an upward tendency and widening spreads. See Graph 5 By far, exchange rates have been the most affected financial variable, with generalized depreciations of emerging-market currencies against the U.S. dollar on a trade-weighted basis.
I take this opportunity to welcome the Governor, Bank of South Sudan, H.E. Kornelio Koriom Mayik, and the entire BSS delegation to Nairobi, Kenya and more specifically to the Kenya School of Monetary Studies (KSMS).