Economist : Adjusting the exchange rate is normal within the current Situations

Sudan Events – Rehab Abdullah

Economic expert Dr. Mohamed Al-Nayer said that adjusting the exchange rate is normal within the current situations and attributed this in his statement to (Sudan Events ) to the fact that the Bank of Sudan’s CBS policy before the war gives banks the freedom to raise the exchange rate according to the data and requirements, and this is necessary to attract foreign currency flows. Al-Nayer warned that if the gap between banks and the parallel market remains large, raising the exchange rate will not achieve the desired purpose and the achievement of the objectives of this policy is subject to the equality of prices between the official sector and the parallel market, and he considered it likely to attract foreign currency flows to the banking sector, noting that this was achieved in the period before the war, as the demand for banks became more than dealing with the parallel market due to the equality of the price, but Al-Nayer said that there is still a gap and that the leap that occurred in the banks was primarily motivated by the entry of all export revenues into the banks, and when they are replaced with the local currency, it must be at a rewarding price for exporters.