Home | News    Tuesday 30 January 2018

U.S. dollar hits record high against Sudanese pound

separation
increase
decrease
separation
separation

An employee of a money changer holds a stack of U.S. Dollar notes before giving it to a customer in Jakarta, October 8, 2015. (Reuters Photo)

January 29, 2018 (KHARTOUM) - The Sudanese pound on Monday has hit another historic low against the US dollar on the black market despite strict security measures put in place by the government since last November.

A trader in Khartoum told Sudan Tribune that the purchase price of the U.S. dollar reached 36,5 Sudanese pounds while the selling price settled at 37,00 compared to 34,5 and 35,00 on Sunday.

He added the dollar price continued to increase by one to two pounds daily since the beginning of this month, blaming the decline of the pound price on the government policies.

The same trader disclosed security crackdown on illicit exchange offices that transfer money to the Gulf States, expecting the dollar price to continue to rise and reach 40 pounds next week.

He said the Central Bank of Sudan (CBoS) doesn’t have enough foreign reserves to inject it into the commercial banks.

Sudanese economists stress the government is the largest buyer of the dollar from the black market including the central bank and other government institutions.

The most recent International Monetary Fund (IMF) report indicated that Sudan’s foreign reserves cover approximately one and a half months of imports.

Sudan’s economy was hit hard since the southern part of the country declared independence in July 2011, taking with it about 75% of the country’s oil output.

(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.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Bring Sudanese troops home now 2018-04-21 15:25:57 By Salah Shuaib The Sudanese troops fighting hard now in Yemen, who were sent there by order of al-Bashir, should return home. The process of implementing this task is much challenging. But, we (...)

Dissolution and formation of the Cabinet - 2013 2018-04-20 08:00:00 Amb Telar Deng The events that led to the 2013 dissolution of cabinet can be traced back to the deep mistrust that fermented back in 1991 when leaders failed to close ranks. After the 1991 (...)

The Darfur issue remains in oblivion 2018-04-20 07:36:49 By Mahmoud A. Suleiman The victims and survivors of the atrocious crimes in the Darfur region where very few in the world cares for their plight continue feeling trapped, no way out but at the (...)


MORE






Latest Press Releases


Abyei celebrates Mine Awareness Day 2018-04-05 08:52:03 4 April 2018 | Abyei - The United Nations Interim Security Force for Abyei (UNISFA) and the United Nations Mine Action Service (UNMAS) commemorated the International Day for Mine Awareness and (...)

Appeal for forgiveness and pardon of John Agou Wuoi 2018-03-07 08:28:08 H.E. Salva Kiir Mayardit, President and Commander-in-Chief, of the Sudan People's Liberation Army (SPLA), Republic of South Sudan (RSS), 5th February, 2018. Through: Hon. Michael Makuei Lueth (...)

Petition for release of Agou John Wuoi from prison 2018-02-15 20:45:31 Open letter to South Sudan President Salva Kiir Your Excellency, Kindly please permit me to take this rare opportunity to appreciate you for every effort you have made toward making South Sudan (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.