Home | News    Saturday 28 August 2010

Sudanese pound appreciates against US dollar

separation
increase
decrease
separation
separation

August 27, 2010 (RENK) — The Sudanese pound has been showing signs of appreciation against major currencies this week after it dropped a month ago.

The recovery will restore confidence from local business men who are involved in international trade through imports or exports and the recovery may revamp investors in the whole country.

During the past weeks, shows on Sudanese Televisions and sample interviews with senior government officials and business communities by Sudan Tribune indicate that Sudanese pound has drastically appreciated against the US dollar.

Commercial banks and exchange bureaus have showed a mixed trend against the currencies on selling the Sudanese pound at an average of 280 against the United States dollar, while the previous week the Sudanese pound traded at 2.43 against dollar.

In Juba, local exchange establishments are selling out Sudanese pound at an average of 290-compared to 250 in the previous weeks, while banks are not selling out any single dollar starting last week.

James Reech Wol, a Southern Student studying at Uganda’s Kampala International University, told Sudan Tribune from Juba that it has not been possible getting dollar in the banks. “It has not been possible getting even a single dollar since I started looking for it since last week. My school days are finished and yet I have not managed to get a change,” said Wol.

Mawien Dut, a business man who goes to Uganda and Kenya to buy goods said in a separate interview that the current behaviors of the Sudanese pound is not good for international business where most of the payments are being paid in dollars.

"When the dollar rises, it is for the benefit of those who are involved in exporting various items because they earn more than what they used to earn and it becomes more of a crisis to those importing," he noted.

He said that the rising currencies comes to the expense of the consumer mostly ordinary Southern Sudanese because business persons don’t want to make losses and prefer to increasing prices for items.

Mr. Dut said that for those who are exporting various items and skills to east African and beyond, they are making huge profits because when they are paid in dollars, they immediately exchange the currency into Sudanese pounds at profitable price.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 19 March 2013 19:34, by dennishobson

    XLAkFVnbMNHFbA3ShKpxHagUFbKGMmssangyong madeira plastica plastic lumber An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So le

    repondre message

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Paul Malong’s Saga: Losers’ desperation 2017-11-24 07:39:29 By Lucy Ayak Malek, For a woman used to living a simple private life, the situation of the past few months has really pushed me into a position where I have been confronted by very powerful (...)

Mugabe’s Dictatorial End: A Great Lesson for South Sudan 2017-11-20 08:40:27 by Matai Muon In Africa’s model of democracy, serving longer equates to a higher level of democratic peace and stability. From Sudan to DRC, Equatorial Guinea to Uganda, Rwanda to Zimbabwe, the (...)

South Sudan peace revitalization is priority 2017-11-18 13:06:33 By Clement Maring Samuel The SPLM political detainees (FDS), and SPLM in Government (SPLM-IG) holds to views of achieving peace through the reunification of the SPLM party, and through the (...)


MORE






Latest Press Releases


Reactions to government agencies’ conspiracy against Greater Bor community 2017-10-08 07:54:31 By Manyok Abraham Thuch & Kuch Kuol Deng A monkey business or a donkey business in the government of the republic of South Sudan against the citizens is unacceptable. Therefore, we as youth (...)

Amnesty calls to release Nubian activists detained over protest for cultural rights 2017-09-12 20:47:54 AMNESTY INTERNATIONAL PRESS RELEASE 12 September 2017 Egypt: Release 24 Nubian activists detained after protest calling for respect of their cultural rights Egyptian authorities should (...)

New group formed to gather Nuer in United States 2017-08-17 14:15:50 DECLARATION FOR THE FORMATION OF NUD TO BRING TOGETHER ALL NUER IN THE U.S.A Press Statement The Nuer Union For Development (NUD) The United State of America The State of Nebraska August 15, (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.