The Sudanese currency continues to deteriorate
Sudan Events – Rehab Abdullah
The Sudanese pound incurred new losses in its exchange rate against foreign currencies, following the Minister of Finance’s statements about the decrease in state revenues by 80%, in addition to the loss it has suffered since the outbreak of the militia war in mid-April 2023. The Minister acknowledged the decline in the value of the pound due to the increase in military exchange, and said Military war obligations increase every day and are in hard currency, which is part of the problem of the exchange rate in which we live. He pointed out that the government sought to control the dollar, but the high demand for foreign currencies led to a decline in the local currency, as the price of the dollar in the parallel market broke a new rescord.
Foreign exchange dealers told “Al-Ahdath” that the purchase price reached 1,320 pounds in Tuesday’s trading, while the selling price for the dollar reached 1,340 pounds, while prices increased for conducting transactions through the “Bankak” application, as the purchase price reached 1,350 pounds, while the selling price reached 1,400 pound.
The rise included the price of the Saudi riyal, as its purchase price reached 352 pounds, compared to 360 pounds for sale, and the purchase price of the Qatari riyal reached 360 pounds, compared to 363 pounds for sale, while the UAE dirham reached 359 pounds.
At a time when foreign currency prices in banks also witnessed an increase, as the price of the dollar reached 1,075 pounds in the Bank of Khartoum, 1,120 pounds in the Omdurman Bank, and 1,180 pounds in Faisal Bank.
