Warnings of the impact of banks increasing exchange rate on exports

Sudan Events – Rehab Abdullah

Head of the Gum Arabic Exporters Division in Sudan, Ahmed Al-Anan, warned that the goal of Sudanese banks starting to raise the exchange rate of foreign currency against the Sudanese pound is to stimulate exports, and he considered it in an interview with (Sudan Events ) a negative matter, and attributed that to the fact that it is a lot, and he said, “And I say a lot, and not all exporters consider it a help in reducing costs and thus works to increase the competitiveness of Sudanese goods.” Al-Anan saw that the truth behind raising prices is a reason to lower export prices abroad, which he considered to be losing the country hard currency.
But Al-Anan considered it a good thing if increasing the exchange rate in banks is to bridge the gap with the parallel market price to help export companies return export proceeds, and he continued, “There is a positive aspect in that.”