Sudanese pound falls sharply, worse is yet to come

Khartoum – Al Taghyeer Online: the Sudanese pound fell to record levels as the
American dollar was sold at SDG 88 in the parallel market on Sunday 15
December 2019.

Hard currency dealers have attributed the unprecedented rise of the rate of the
dollar to the growing demand for foreign currency, saying the Saudi Riyal is sold
at SDG 23, Euro at SDG 97 and the Sterling pound at SDG 110.

A hard currency trader told “Al Taghyeer Online” that a request for SDG 400
billion worth of foreign currencies caused the rate of the dollar to shoot up to
nearly SDG 90 in the black market.

Another hard currency trader indicated the entry of the Rapid Support Forces in the
hard currency market in addition to other major companies which import
medicines, fuel, wheat and cosmetics.

Dealers who spoke to the Online Newspaper anticipated the rate of exchange to hit
SDG 100 especially that telecommunications companies by the end of the year will
transfer their profit surpluses in hard currency overseas.

The deterioration of the rate of the Sudanese pound caused a steep rise in the prices
of essential commodities and in turn worsened the hard living conditions posing
threat to the stability of the fragile transitional period in the country.

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