Deterioration of the exchange rate of the Sudanese pound

Sudan Events – Rehab Abdullah

The pound continued to deteriorate and its exchange rate fell against foreign currencies in parallel market trading (Tuesday), and the price of the dollar ranged between 1085 and 1095 pounds in the parallel market, while the exchange rate of the Saudi riyal rose to 289 pounds and the UAE dirham to 293 pounds.
As for the official prices in banks, they were 900 pounds in Omdurman Bank, 810 pounds in Khartoum Bank, and 800 pounds in Faisal Bank.
Traders in the parallel market attributed the rise to the increasing demand for purchasing foreign exchange resources by merchants and importers, and that there is a great scarcity of foreign exchange resources and the demand is greater than the supply. Economists attribute the continued decline of the pound over the past nine months due to the continuation of the war and the lack of a clear vision for reforming the deteriorating economy, which has been greatly affected by the continuation of the war.