The Sudanese government announced the unification of foreign exchange rates against the Sudanese pound, according to the "flexible managed exchange rate" rule, as part of a package of economic measures to address the structural crisis facing the Sudanese economy. Commercial banks set the exchange rate against the US dollar at 375 pounds per dollar.
"The unification of the Sudanese pound exchange rate is a first step, for Sudan to benefit from the debt relief program, in addition to attracting the savings of workers abroad, and encouraging investments," said Sudanese Finance Minister Gabriel Ibrahim.
The Central Bank of Sudan took the decision to unify the exchange rate in the Sudanese markets, based on the plan to review economic policies, which aim to stabilize the economy and address its structural imbalances.
Sudan is facing difficult economic conditions, which led to the deterioration of the exchange rate of the Sudanese pound, so that its price in the parallel markets (the black market) reached about 400 pounds to one US dollar, while the official exchange rate was 55 pounds to the dollar, in addition to the scarcity of its foreign exchange resources, which led to an increase and scarcity of basic commodities such as wheat and fuel.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
