UN Program Reports a 31% Decline in the Sudanese Pound’s Value

On Wednesday, the UN’s World Food Programme (WFP) revealed that the value of the Sudanese pound dropped by 31% in September, marking a 327% decline compared to the previous year.

Since the onset of the conflict, the Central Bank of Sudan has not issued any updates on the trade balance, but it is expected that the trade deficit will significantly increase due to Sudan’s reliance on imports for most of its needs, especially after the industrial base was destroyed by the war.

In its September update on the situation in Sudan, the WFP stated that the Sudanese pound’s value fell by 31% in the parallel market, where it traded at 2,560 SDG per dollar, marking a 327% drop compared to the previous year. The program attributed this decline to poor crop yields in 2023 and ongoing supply chain disruptions caused by the conflict.

It also noted that temporary labor wages increased by 6% in July 2024, reaching 9,304 SDG, a 65% rise compared to August 2023. However, these wage increases did not keep pace with rising food prices, resulting in a significant decrease in purchasing power across most states.