Home | News    Monday 16 January 2017

Dollar price pulls back after U.S. decision to ease Sudan’s sanctions

separation
increase
decrease
separation
separation

January 15, 2017 (KHARTOUM) - The U.S. dollar price has swung lower on the black market in the Sudanese capital, Khartoum following the U.S. decision to ease the economic sanctions imposed on the east African nations for two decades.

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

On Friday, the outgoing U.S. President Barack Obama signed an executive order to ease sanctions against Khartoum enabling trade and investment transactions to resume with Sudan.

Last November, Central Bank of Sudan (CBoS) introduced an incentive policy, increasing the exchange rate in commercial banks by 131%. As a result, the U.S. dollar exchange rate went up in banks to 15.8 SDG from the official rate of 6.5 SDG.

Following the CBoS decision, the dollar price went up and settled at 19,4 pounds on the black market.

Traders in Khartoum on Sunday told Sudan Tribune on the condition of anonymity that the dollar price ranged from 14 to 17 Sudanese pounds (SDG), saying they refrained from buying the dollar in fear of a further decline in its price.

According to the traders, the U.S. decision caused uncertainty and the dollar price fluctuated from 14 to 17 pounds.

It is noteworthy that Sudan’s Finance Minister Badr al-Din Mahmoud on Saturday announced they are developing a comprehensive plan to review the foreign exchange policy in light of Washington’s decision to ease sanctions.

Sudan has been under American economic and trade sanctions since 1997 for its alleged connection to terror networks and remains on the U.S. list of state sponsors of terror. The first batch of sanctions restricts U.S. trade and investment with Sudan and block government’s assets of the Sudanese government.

Additional sanctions in relations with the conflict in Darfur region were introduced by two Executive Orders in 2006.

(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.
  • 15 January 20:23, by Splm-iG

    the same way should be apply by U.S government to South Sudan, if not then let them sanction Kiir Mayardit and Riek Machar rather than venerable people in the country.

    repondre message

  • 16 January 18:21, by charles reeves

    The failing economy in Sudan—including lack of Forex, skyrocketing inflation, bread shortages, collapsing agriculture—is the result of 27 years of tyrannical, self-enriching rule by NIF/NCP. Obama’s decision to lift sanctions ensures Sudanese continue to suffer under this tyranny: newspaper confiscations, crushing of human rights, endless wars. People will suffer because of his gift to the regime

    repondre message

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


Wedding in Juba - How can you tell if a bridegroom works for Nilepet? 2017-02-24 05:25:41 By Deng Kiir Akok The Nile Petroleum Corporation is a national Oil and Gas Corporation, which engages in oil exploration, production and marketing. Famous for its abbreviation Nilepet has been a (...)

Bashir’s congratulation for Trump remains double-edged sword 2017-02-21 08:47:41 By Mahmoud A. Suleiman This is a note to the readers of this article about my use of the phrase double-edged sword. It means that Omar al-Bashir’s Speedy congratulation offer to Donald Trump (...)

South Sudan: Why ’NO’ for peace and ’YES’ for war 2017-02-20 20:45:12 By Tor Madira Machier The region and the International community has been on a campaign in a bid to end the civil war in South Sudan right after its inception in December 2013, yet the very (...)


MORE






Latest Press Releases


Militias of Bashir’s Regime and the Proxy War (1) 2017-02-08 21:49:09 Sudan Democracy First Group Militias of Bashir’s Regime and the Proxy War (1) War in the Blue Nile: Militias in the hunt of refugees and displaced population Introduction Throughout its rule, (...)

More refugees flee to Uganda than across Mediterranean 2017-01-25 09:15:39 January 25, 2017 Uganda welcomed more refugees last year than the total number of refugees and migrants crossing the Mediterranean into Europe. “Europe should learn from the way Uganda and other (...)

Carter Center welcomes new regulations on humanitarian affairs 2017-01-12 07:53:16 The Carter Center ATLANTA, Januarg 11, 2017 – The Carter Center welcomes the recent regulations issued by the government of Sudan aimed at facilitating humanitarian relief throughout the country (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.