{"id":39259,"date":"2024-12-24T00:19:34","date_gmt":"2024-12-23T21:19:34","guid":{"rendered":"https:\/\/sudanevents.com\/?p=39259"},"modified":"2024-12-24T00:19:34","modified_gmt":"2024-12-23T21:19:34","slug":"usurious-transactions-emerge-in-the-exchange-of-500-and-1000-pound-notes","status":"publish","type":"post","link":"https:\/\/sudanevents.com\/index.php\/2024\/12\/24\/usurious-transactions-emerge-in-the-exchange-of-500-and-1000-pound-notes\/","title":{"rendered":"Usurious Transactions Emerge in the Exchange of 500 and 1,000-pound Notes"},"content":{"rendered":"<p><strong>Sudan Events &#8211; Rehab Abdullah<\/strong><\/p>\n<p>Investigations by Al-Ahdath revealed that many merchants in states targeted for currency exchange have stopped accepting the old 500 and 1,000-pound notes, claiming they are no longer valid. Some businesses have completely closed their doors, despite the extension of the exchange period to December 30 from December 23.<\/p>\n<p>Reports also indicated the emergence of off-system currency trading by brokers engaging in usurious transactions. Such dealings involve discounts of 20%-30%, meaning one billion old Sudanese Pounds are exchanged for 700-800 million SDG, effectively a 200-300 million SDG deduction. Many citizens, out of necessity, have resorted to these transactions.<\/p>\n<p>Abdulrahman Mohamed Abdulrahman, Head of the Operations and Monitoring Committee for Currency Exchange at the Central Bank of Sudan, told Al-Ahdath that such issues are anticipated based on past exchange experiences. He attributed the chaos to the short exchange period, insufficient banking outlets and facilities for handling funds, and a lack of adequate banking staff to manage the process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sudan Events &#8211; Rehab Abdullah Investigations by Al-Ahdath revealed that many merchants in states targeted for currency exchange have stopped accepting the old 500 and 1,000-pound notes, claiming they are no longer valid. Some businesses have completely closed their doors, despite the extension of the exchange period to December 30 from December 23. Reports also &hellip;<\/p>\n","protected":false},"author":2,"featured_media":39260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-39259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic"],"_links":{"self":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/39259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/comments?post=39259"}],"version-history":[{"count":1,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/39259\/revisions"}],"predecessor-version":[{"id":39261,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/39259\/revisions\/39261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media\/39260"}],"wp:attachment":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media?parent=39259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/categories?post=39259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/tags?post=39259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}