Experts Assess SDG Continued Decline

Sudan Events_Nahed Oshi

Economic experts who have been analyzing the continued decline of the Sudanese pound against foreign currencies have reached conclusion that one of the main reasons for the deterioration is the prolongation of the war, which is approaching its 10th month since its outbreak in mid-April 2024.
The economist Dr. Awadallah Musa told Sudan Events that the impact of the war on the export and import sector, and the the significant decline in exports have negatively affected the value of the Sudanese currency and reduced the availability of foreign currencies.
He said the slight decline that the dollar sometimes witnesses is not a recovery of the Sudanese currency, but rather results from reluctance to trade and a low demand for hard currency that occurs from time to time and added “we cannot have described that as an improvement.”
This view is shared by economic expert Dr. Abdullah Al-Ramadi who refers to the conditions of war and the damage to the industrial sector in particular and the infrastructure. The import of goods and inputs resulted in a decline in the demand for foreign currencies, which results in a slight recovery in the exchange rate of the Sudanese pound in some cases, causing the foreign currency to rise again.
The price of the dollar in the parallel market today, Thursday, recorded 1,110 pounds for sale and 1,100 pounds for purchase.
The prices of Gulf currencies are also witnessing a continuous rise, as the Saudi riyal recorded 292 pounds, the Emirati dirham 297 pounds, and the Qatari riyal 296 pounds. In the official market, the dollar’s circulation in Bank of Khartoum transactions recorded 910 pounds, while its price rose in Faisal Bank 911 pounds and in Omdurman Bank 1,050 pounds