Sudan: Dollar Scores 6,000 Sudanese Pounds in the Black Market

Sudanhorizon – Nazik Shamam

The Sudanese pound’s exchange rate against the US dollar skyrocketed to 6,000 pounds a US dollar in non-nofficial market trading on Sunday.
Traders in the parallel market confirmed the pound’s depreciation against the dollar to 6,000 pounds per dollar, against 5,850 pounds last week.
Several traders who spoke to Sudanhorizon explained that the selling price of the dollar reached 5,900 Sudanese pounds, while the buying price was 6,000 pounds.
They indicated that the selling price of the Emirati dirham reached 1,600 pounds, while the buying price was 1,590 pounds. The buying price of the Saudi riyal reached 1,470 pounds, compared to a selling price of 1,550 pounds.
Traders stated that the buying price of the euro reached 6,500 pounds, while the selling price of the Egyptian pound reached 119 pounds. Since last month, Sudanese markets have witnessed a surge in foreign currency prices, which led to the dollar rising from 4,800 pounds to 5,900 pounds.
On Thursday, Sudanese Finance Minister Jibril Ibrahim confirmed to the Cabinet the limited revenue sources and the increasing expenditures due to the existential war imposed on the country by the known terrorist militia insurgency, and the Ministry’s continued operation under an emergency budget.
The Sudanese economy suffers from structural imbalances following the war, including a decline in exports and an increase in expenditures, in addition to severe shortage of foreign currency resources.

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