Title: US dollar price rises against Sudan pound
Author: SudaneseOnline News
Date: 11-23-2014, 03:03 PM
Khartoum-SudaneseOnline-The price of the US dollar against the Sudanese pound rose to (8, 9) SDG on Saturday in the parallel market in Khartoum, while the sale price reached (8, 95) SDG.
A number of dealers in the market attributed rise to the increased demand from clients for the purchase and sale of US dollar in the parallel market significantly, stressing that the dollar's rise continued for the second week in a row.
They explained that demand for the dollar increases with approaching the New Year because of frequent travelers abroad.
The exchange rate of the US dollar against the Sudanese pound in the black market inched higher over concerns related to the foreign banks' boycott, traders said in March this year. Saudi Arabian banks as well as some European financial institutions suspended their dealings with Sudan as of 28 February.
Sudan has suffered economic hardship and decline in the price of the local currency after the cessation of the southern part of the country in the year 2011. It led to the public treasury’s loss of the oil revenues, constituting two-thirds of the state budget.