Home | News    Friday 28 December 2012

Sudan arrests dozens of unofficial currency traders

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December 27, 2012 (KHARTOUM) – Sudanese security authorities have arrested more than 70 traders of hard currency as part of a crackdown on the black market, a well-placed source told Sudan Tribune on Thursday.

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A Sudanese man counts notes after receiving the new Sudanese currency at a central bank branch in Khartoum on 24 July 2011 (Photo: Reuters/Mohamed Nureldin Abdallah)

The source said that the arrests that took place during the last two days were carried out by the National Intelligence and Security Forces (NISS) whose agents also confiscated all the hard currencies found in the possession of the detainees.

Sudan’s Central Bank announced this week that it has decided to ban unofficial foreign currency dealing after the local pound hit a record low, trading for 7.1 against the US dollar in the black market as individuals and businesses alike found it increasingly difficult to obtain dollars through official channels and sometimes even in the black market.

With the loss of oil-rich South Sudan last year, Sudan’s main source of hard currency has dried up leaving the government scrambling to secure new sources of Forex.

"It is almost impossible to get dollars in Khartoum and it is getting worse," one black market trader told Reuters. "The mood is very bad".

The deputy governor of Sudan central bank Badr Al-Deen Mahmood was quoted by government sponsored Sudanese Media Center (SMC) website on Tuesday as telling parliament that the jump in the price of the dollar is a result of practices such as linking the dollar price to gold.

Mahmood said the bank is collecting information on currency dealers suggesting legal action might be forthcoming against those implicated.

He said that there is no excuse for trading outside the official channels as the central bank permits anyone to apply for a license to establish a Forex bureau.

The black market rate is watched by foreign firms which sell products in pounds but struggle to convert profits into dollars.

Among those companies are mobile service providers Zain and MTN and Gulf banks such as Dubai Islamic Bank.

The exchange rate also impacts the price of basic commodities most of which are imported from abroad. Inflation rate in November hit 47% last month.

(ST)

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Kind regards,

The Sudan Tribune editorial team.
  • 28 December 2012 12:08, by South South

    Haaah, haaah, haah, what shall I do now, laugh ? jump ? dance ? sing ? Penguins are dying. 7.1 sp for a dollar. Penguins.

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    • 28 December 2012 13:05, by Northern Sudanese

      hahahahahah Dark monkey up their is laughing hahahahaha
      these are the people selling dollars at the unofficial rate of 7.1 SDG for 1 USD they are getting arrested, they should sell dollars for only 4.4 SDG or 5 SDG to make profit, but for 7.1? they should get arrested!

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      • 28 December 2012 13:18, by South South

        Northern Sudanese,
        Read below:
        This is why I say, people in Sudan are dying. If the minimum wage is going to be 425 SP a month, let’s just take that as an example, but real cost for living in Sudan is 1947 SP a month. what is that say ? It says Sudan is a poor country where people can not buy food, cloth, meat, sugar and all the things they need for their daily life. penguins and poor.

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        • 28 December 2012 13:34, by Northern Sudanese

          South Monkey
          you are only using lies and lies and lies! wages differ all the time! each job/occupation has its own salary!
          you are calling Sudan poor? you never ever speak about south sudan! where people don’t have money at all!
          why do more than halve your people depend on food aid?
          why do 90% of your people live in poverty?
          why do you have the worst health crisis in the world?
          and more.....

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          • 28 December 2012 13:48, by South South

            Northern Sudanese,
            Please read below to know what is happening your poor country. Did you real understand what I said. I mentioned minimum wage, Labour Union in Sudan is the one who releases that, if you are not happy with it, go after them and not me: here we go:http://sudantribune.com/spip.php?article45007

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            • 28 December 2012 14:08, by Northern Sudanese

              South South
              dude halve of what this website says about sudan is untrue! take my advice, what is happening in sudan is considered ’’soft’’ when comparing with south sudan!

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              • 28 December 2012 14:30, by South South

                Northern Sudanese,
                Do you really understand minimum wage ? Please tell me what is minimum wage in your own English.

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            • 28 December 2012 14:09, by Northern Sudanese

              focus on your country which can’t feed its citizens!

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              • 28 December 2012 16:30, by South South

                Northern Sudanese,
                Shit, you do not know what is minimum wage is, stupid. Tell me what is minimum wage is in English. Shit.

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        • 28 December 2012 13:36, by Northern Sudanese

          you say sudanese people can’t buy food? do you want me to show you an image of me eating my food? lol
          dude , sudan is even feeding your shithole by giving you our sorghum. when we closed the border in April, you were smuggling food from sudan, ’’stealing’’ our food! because you have no money , food in south sudan!

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        • 28 December 2012 13:45, by Northern Sudanese

          South monkey
          now that we are speaking about wages, when was the last time your dark soldiers had been paid??? they haven’t been paid for months...
          wages in sudan are faaaaar higher than those of south sudan! in south sudan, most people are so poor that they depend on food coming from the UN

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          • 28 December 2012 20:18, by Nyakuzuny

            hahahaaaa Norther Sudanese are you Understanding you are really Thieves In Sudan? that is why you are using to change beak Dollars , and secondly let you understanding your poverty in Sudan , now Sudan Become poorest Country, and South Sudan Now become very Riches Country of World as whole.

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            • 28 December 2012 20:25, by Nyakuzuny

              brother Northern Sudanese , Sudan is now Blind Money you will not seeing any road in the Sudan again with Corruption thieves . I Sort that Ohmar Aljerima he is one from those who Arrested hahahaaaaa and Mahamed Alli he is Second thief and Hassen Trubi he is the third man. hahahaaaa Spla Oyeee! New Sudan Oyeee ! Riches Nation Oyeeee!

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        • 2 February 15:37, by edisonleon

          Dit is ’n baie slim idee en kan in verskeie ondernemings toegepas word . Daar is tye wanneer jy kan deur mense om betrokke te wees in ’n unieke bevordering genader word .
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      • 29 December 2012 04:01, by john k

        Does that make you proud by saying Dark Monkey or insects? why are you always,you constantly compaigning here about human colour, have youever won the world beauty contest? north Sudanese are black, maybe you are a foreigner living in north sudan from Middleast or somebody is fooling you that you not black,

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    • 28 December 2012 13:35, by Ayom Ayom

      That is terrible, serious inflation in Khartoum 7.1 as the exchange against hard currency. This is too much for the economy of North Sudan. Arresting traders will solve this problem, it will soon reach 7.5 instead believe me or not. Your central bank don’t give hard currency to the traders, so what do you expect them to do? There is a need here for South Sudan to help Khartoum economic crisis.

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      • 28 December 2012 13:38, by Northern Sudanese

        Ayom Ayom
        listen dude, 7.1 is not the official rate! it is a ’’black’’ market rate! the official rate is 4.4 SDG , but these trade men sell it for 7.1 & thats why they are getting arrested!

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        • 28 December 2012 15:30, by Aaban

          Stope being airhead idiot, read Arabic newspaper and accepted the true as human being was created for truths, why are you so dying heart supporter of what you have seen collapsing? Are you not human just like others who can respect God and said the truth?
          Please help your shithole to understand the situation that brought to us by your gangs uncles,

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        • 28 December 2012 19:55, by Observer

          N Sudanese,
          While our govt limits the amount of foreign currency that can be transferred out of the country there will always be a black market.
          Earlier this year Emirates reduced their flights to Khartoum and stopped taking SDG for payment for airfares because the Govt would not allow them to transfer the SDG into foreign exchange and transfer it to Dubai.

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          • 28 December 2012 20:01, by Observer

            Landlords in Khartoum ask for rent to be paid in $US and businessmen need $US to be able to trade internationally but are stopped from having access to funds through their banks so naturally will go to the black market.
            Ministers and high ranking official get partially paid in $US which is wrong- they should set the example and take all their salary etc in SDG.

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            • 28 December 2012 20:07, by Observer

              Most of the foreign exchanges are owned by govt officials or members of their family.
              Because of the restrictions on the Sudanese public and the amount of money they can change the official exchanges are not doing much business.
              In Afra mall which used to be so busy with people using foreign exchanges there is hardly anyone changing money these days.It is because they tell you they have no money

              repondre message

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      By? ró?ne , a co wa?niejsze , jest osoba w interesach . Uwaga do drobnych szczegó?ów mo?e by? du?y klucz do sukcesu.
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  • 28 December 2012 18:45, by Majer

    Read here Northern Sudanese: You are simply applying racist language, something educated man cannot do. What is wrong with our black color? Did we create ourselves o

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