Dollar Scores New Gains Against the Sudanese Pound

Sudanhorizon – Nazik Shammam

The Sudanese pound has once again depreciated against foreign currencies in the unofficial market trading, Tuesday.

The buying rate for the US dollar reached 8,600 pounds, up from 8,300 pounds last week.

According to parallel market traders, the selling rate for the dollar stood at 8,450 pounds, compared to a buying rate of 8,600 pounds.

Speaking to sudanhorizon they noted that the selling rate for the UAE dirham was 2,360 pounds against a buying rate of 2,340 pounds, while the Saudi riyal recorded a buying rate of 2,200 pounds compared to a selling rate of 2,250 pounds.

They added that the buying rate for the euro stood at 9,200 pounds, against a selling rate of 9,500 pounds.

Sudanese markets are witnessing a continuous rise in exchange rates against foreign currencies, driven by high demand for foreign currency and limited supply amidst the ongoing war between the Sudanese army and the Rapid Support Forces (RSF) militias.

Finance Minister Gibril Ibrahim had previously indicated that the ministry was relying on an emergency budget—due to declining revenues and rising expenditures necessitated by current circumstances—a situation that has led to structural imbalances and a severe shortage of foreign currency resources.

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