Sudanese Pound Recovers

In a surprising turn, foreign currency exchange rates against the Sudanese pound dropped during Wednesday evening’s trading in the parallel market after rising earlier the same day.

Currency traders said the purchase price of the US dollar dropped in Wednesday evening trading to 2,600 pounds, and its selling price to 2,700 pounds. Meanwhile, the purchase price of the Saudi riyal dropped to 700 pounds, and the Egyptian pound dropped to between 51 and 55 pounds. The Omani rial also decreased, reaching 7,179.48 pounds.

The price of the UAE dirham stood at 762.94 pounds, the euro at 3,076.92 pounds, the British pound at 3,684.21 pounds, the Bahraini dinar at 7,368.42 pounds, and the Qatari riyal at 769.23 pounds. The Kuwaiti dinar remained stable at 9,032.25 pounds.

Currency traders attributed the decline to decreased demand following a halt in large money orders.

Banking expert Waleed Dalil attributed the drop in exchange rates to the impact of the US decision to lift restrictions on the Sudanese economy.