Home | News    Tuesday 25 March 2014

Sudanese pound slides lower against the US dollar

separation
increase
decrease
separation
separation

March 24, 2014 (KHARTOUM) – The exchange rate of the US dollar against the Sudanese pound (SDG) in the black market inched higher over concerns related to foreign banks boycott revealed this month, traders said.

JPEG - 23.4 kb
A worker counts US dollar bills inside a money changer in the Sudanese capital, Khartoum (Photo: Reuters)

One US dollar was selling for 8.5 SDG on Monday compared to 8.2 at the end of February.

A black market trader told Sudan Tribune that the price of the dollar went up due to high demand and low supply.

He also mentioned reports that Saudi Arabian and some European bank suspended their dealings with Sudan as of the February 28th as a factor.

The pound also weakened against the UAE Dirham and the Saudi Riyal.

The secession of the oil-rich south, denied Khartoum access to 75% of oil reserves that existed when the country was united. This has created a fiscal shock as a result of curtailment in national income and also increased prices of basic commodities that are mostly imported using shrinking Forex reserves.

(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.

Comment on this article


 
 

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


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Have the G-10 Broken up into G-6 and G-4? 2015-07-03 04:20:44 By David Lony Majak The so called G10 is now almost reducing to G-4; I know some genuine questions will be asked by mindfully readers, why G10 reduced to G4. The defection of Pagan Amum has (...)

ISIS- Daesh entering Sudan without a deterrent 2015-07-01 02:57:26 By Mahmoud A. Suleiman This article comes against the background of the Extremism, which has become epidemic growing and spreading like a cancer from the Levant region to the Middle Eastern (...)

IGAD, war, power sharing, and peace in South Sudan 2015-06-30 05:30:25 By B. Yongo Bure The latest IGAD peace proposal cannot bring long lasting peace to South Sudan. But we should not blame IGAD but ourselves. Where is our own “good” South Sudanese peace proposal? (...)


MORE






Latest Press Releases


Sudanese, human rights groups and advocates demand renewal of UNAMID 2015-06-25 06:03:32 FOR IMMEDIATE RELEASE CONTACT: New York: Ahmed H.Adam, Tel. +1 347 567 1491 or aha64@cornell.edu Kampala: Abdelrahman Gasim, Tel. +256 7 51 90 77 77 or gasim202000@gmail.com Geneva: Abdelbagi (...)

Civil society groups urge to stop hostilities in W. Bahr El Ghazal 2015-06-11 22:24:37 Urgent action for sustainable peace in Western Bahr El Ghazal State Civil Society Statement: June 10, 2015 Wau –Western Bahr El Ghazal State- The Republic of South Sudan We, civil society (...)

Two South Sudanese pastors face death penalty in Khartoum 2015-06-03 06:08:37 African Centre for Justice and Peace Studies Two South Sudanese Pastors face death penalty for voicing opposition to corruption scandal at Khartoum Bahri Church (2 June 2015) Two South Sudanese (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.