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


A shattered hope: Revisiting the horrors of Juba’s massacre 2018-02-24 19:52:46 By Duop Chak Wuol Sometimes it is better to immerse yourself in other’s experiences to get an understanding of your own imagination. It is not rational to conclude that what you imagine is (...)

“The Nile: Shared River, Collective Action” 2018-02-22 08:06:26 By Dr. Eng. Seleshi Bekele Ethiopia is hosting the 2018 Regional Nile Day Celebration in commemoration of the establishment of the Nile Basin Initiative (NBI) on February 22, 1999 in Dar es (...)

James Dak’s case:: Why death sentence should be canceled 2018-02-19 14:27:34 By Peter Gai Manyuon On Monday 12th of February 2018, a South Sudan court in Juba sentenced James Gatdet Dak to death by hanging, citing several provisions in the constitution as the basis upon (...)


MORE






Latest Press Releases


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 (...)

AUHIP Communiqué on Sudan & SPLM-N talks for cessation of hostilities agreement 2018-02-05 13:04:16 African Union High-Level Implementation Panel for Sudan and South Sudan Joint Statement on Unilateral Ceasefire, Cessation of Hostilities and Completion of Negotiations 1) With the facilitation (...)

South Sudanese rights group call to release political detainees 2017-12-10 07:50:31 THE INTERNATIONAL HUMAN RIGHTS DAY: 10 DECEMBER 2017: SSHURSA CALLS ON ALL TO ACTION FOR SOUTH SUDANESE The 10 December usually marks the international human rights day. SSHURSA notes with (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.