Sudan: Dollar Exchange Rate Hits 6,000 Pounds
The exchange rate of the Sudanese pound against the US dollar in unofficial market trading jumped on Sunday to 6,000 pounds per dollar.
Traders in the parallel market confirmed that the Sudanese pound had weakened against the dollar, falling to 6,000 pounds per dollar, compared with 5,850 pounds last week.
Several traders who spoke to Al-Muhaqqiq said the dollar was being sold at 5,900 pounds and bought at 6,000 pounds.
They added that the UAE dirham was selling at 1,600 pounds and buying at 1,590 pounds, while the Saudi riyal was being bought at 1,470 pounds compared with a selling price of 1,550 pounds.
Traders said the euro was being bought at 6,500 pounds and sold at 6,600 pounds, while the Egyptian pound was selling at 119 Sudanese pounds.
Sudanese markets have been experiencing a surge in foreign currency prices since last month, pushing the dollar exchange rate from 4,800 pounds to 5,900 pounds.
Last Thursday, Sudanese Finance Minister Jibril Ibrahim told a cabinet session that government revenue sources remained limited while expenditure continued to rise amid what he described as an existential war imposed on the country by the ongoing rebellion of the terrorist militia. He said the ministry was continuing to operate under an emergency budget.
The Sudanese economy has suffered structural imbalances since the outbreak of the war, including declining exports, rising expenditures, and a severe shortage of foreign currency resources.
