Sudanese Pound drops further against US Dollar

Sudanese Pound drops further against US Dollar


08-24-2015, 03:39 PM


  » http://sudaneseonline.com/cgi-bin/esdb/2bb.cgi?seq=msg&board=10&msg=1440430747&rn=0


Post: #1
Title: Sudanese Pound drops further against US Dollar
Author: Radio Dabanga
Date: 08-24-2015, 03:39 PM

04:39 PM Aug, 24 2015
Sudanese Online
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August 24 - 2015andnbsp;KHARTOUM
A man is changing money at an forex office in Khartoum (file photo).
A man is changing money at an forex office in Khartoum (file photo).

The black market rate for the Sudanese Pound showed a sharp drop against the US Dollar on Sunday.

After months at a stable rate of SDG9.50, the Dollar now amounts to SDG10.05, a dealer told Radio Dabanga from Khartoum.andnbsp;“The rate is even higher for transactions of more than $1,000,” he said.

The official US Dollar rate has been set at SDG6.0771 for months. The value of the Euro climbedandnbsp;from SDG6.74 last Mondayandnbsp;to 6.92 on Sunday.

The slide is remarkable as the Sudanese government announced in July that it had received a billion US Dollars from Saudi Arabia in deposits at the Sudanese Central Bank. The inflation rate decreased significantly that month to 14.10 percent, while it has averaged at 31.16 percent during the past years.

The announced cash injection should have reduced the price of the Dollar against the Sudanese Pound. However, the growing demand for foreign currency is causing the rise of the Dollar, the Khartoum dealer said. He expects that the Sudanese Pound will slide even further on the parallel market.

Sudanese economists say that the government is the largest buyerandnbsp;from the black market, including the Central Bank and other government institutions.andnbsp;

More than five years ago, foreign currency reserves at the Central Bank of Sudan, needed to import foodstuffs and medicines, began declining sharply. The black market rate for US Dollar and Euro began to rise accordingly.

According to the International Monetary Fund, Sudan lost 55 percent of its fiscal revenues and about two-thirds of its foreign exchange earnings after the secession of South Sudan in 2011.

In May this year, Sudanese economists warned of a considerable rise in food prices during the coming months. They said that the rising inflation rate over the last two months was an indication that prices of basic commodities will continue to rise significantly the coming period.

The economists attributed the inflation to the decreasing value of the Sudanese Pound. They said that Sudan's production losses, rampanthttps://www.dabangasudan.org/en/all-news/article/khartoum-s-financial-policies-crime-against-sudan-economistcorruption, the drop inandnbsp;https://www.dabangasudan.org/en/all-news/article/sharp-drop-in-sudanese-remittances-economistremittancesandnbsp;by Sudanese expatriates, andandnbsp;https://www.dabangasudan.org/en/all-news/article/sudan-s-economy-collapsed-2015-budget-fake-economisthuge expenditureandnbsp;on military operations have also considerably damaged the country's economy.




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  • About (3) million foreigners entered the country illegally: Sudanese Interior Ministry 03-02-15, 08:28 PM, SudaneseOnline News
  • Displaced leaders asked to vote for Sudan's ruling party 02-28-15, 04:59 PM, Radio Dabanga
  • Khartoum and Addis Ababa agree to start public transport service 02-28-15, 04:57 PM, SudaneseOnline News
  • Civil society to Germany: Sudan continues atrocities 02-28-15, 04:56 PM, Radio Dabanga
  • China sees no "logic" behind US-drafted resolution on South Sudan 02-28-15, 04:19 PM, SudaneseOnline News
  • Sudanese tribesmen request reconciliation mechanism 02-28-15, 04:18 PM, Radio Dabanga
  • Sudan’s president stresses the opposition’s inability to block the elections 02-28-15, 04:17 PM, SudaneseOnline News
  • President of Sudan offers release of political detainees 02-28-15, 04:15 PM, Radio Dabanga
  • Russian helicopter hit by anti-aircraft fire when it crashed in South Sudan: UN 02-28-15, 04:12 PM, SudaneseOnline News
  • Fatou Bensouda, following the Appeals Chamber decision upholding the acquittal in the Ngudjolo Chui 02-27-15, 10:53 PM, ICC Public Affairs Unit
  • Ngudjolo Chui case: ICC Appeals Chamber confirms the acquittal decision 02-27-15, 08:30 PM, ICC Public Affairs Unit
  • Sudanese leader says being hounded by ICC, West 02-27-15, 08:29 PM, AFP Agence France Presse
  • Fatou Bensouda, at a press conference in Uganda: justice will ultimately be dispensed for LRA crime 02-27-15, 08:25 PM, ICC Public Affairs Unit
  • Freedoms severely curtailed in Sudan in 2014: Amnesty 02-27-15, 02:19 PM, Radio Dabanga
  • I’m ready to “leave” if the people decided that through elections: Sudan’s president 02-27-15, 02:16 PM, SudaneseOnline News
  • Liberation of Kuhliyat garrison 5 km west Kadugli city 02-25-15, 09:33 PM, الحركه الشعبيه لتحرير السودان شمال
  • Bashir: Iranian centers closed to protect Sudan 02-25-15, 09:32 PM, Al Arabiya News
  • Statement of the ICC Prosecutor at a press conference in the Central African Republic 02-25-15, 09:29 PM, ICC Public Affairs Unit
  • Sudan’s Main Opposition Parties to Boycott April Election 02-25-15, 06:58 PM, Voice of America
  • US presents UN draft resolution on imposing sanctions in South Sudan 02-25-15, 06:55 PM, SudaneseOnline News
  • Sudan’s opposition ######### to Berlin to discuss the country’s crises 02-25-15, 05:54 PM, SudaneseOnline News
  • Protests in Sudan's capital after demonstrator dies 02-25-15, 05:51 PM, Radio Dabanga
  • Sudan police forcefully disperse anti-govt demo: witnesses 02-25-15, 03:55 AM, AFP Agence France Presse
  • South Sudan rivals open 'final' peace talks 02-24-15, 10:37 PM, AFP Agence France Presse
  • African Refiners Association ARA meets in Cape Town from March 16 to 20 - 2015 02-24-15, 10:33 PM, SudaneseOnline Press Release
  • After harrowing journey, Sudanese asylum seeker freed from Israeli detention center 02-24-15, 10:25 PM, Haaretz Daily Newspaper
  • Sudanese Refugee Sue Moviemakers 02-24-15, 10:18 PM, SudaneseOnline News
  • Kuwait's Zain seeks to repatriate $280 mln from Sudan 02-24-15, 10:13 PM, Reuters
  • Sudan and Kuwait negotiate help Zain repatriate $280 million worth of Sudanese pounds 02-24-15, 05:02 PM, SudaneseOnline News
  • Sudan suggests many investment projects for UAE businessmen 02-24-15, 04:28 PM, SudaneseOnline News
  • National Liberation and Justice Party launched in Sudan’s capital 02-24-15, 04:26 PM, Radio Dabanga
  • The fighting in Darfur displaced more than 41,000 since late December: UN 02-20-15, 04:56 PM, SudaneseOnline News
  • Two Russia abducted in Darfur’s Sudan are alive: Moscow 02-20-15, 04:46 PM, SudaneseOnline News
  • Tribal reconciliation talks begin in Sudan 02-20-15, 04:45 PM, Radio Dabanga
  • Sudan’s president calls on Russian and American investors to invest in the country 02-20-15, 04:43 PM, SudaneseOnline News
  • Dozens injured as Sudanese students clash 02-20-15, 04:41 PM, Radio Dabanga
  • South Sudan Warns Media Not to Publish Rebel Interviews 02-17-15, 05:29 PM, Voice of America
  • Activists oppose Sudanese govt. officials visit to USA 02-07-15, 06:41 PM, Radio Dabanga
  • US, UK and Norway calls South Sudanese factions to reach a final peace agreement 02-07-15, 06:38 PM, SudaneseOnline News
  • Sudan’s inflation rate increases to 25.7 per cent in December 01-19-15, 05:51 PM, SudaneseOnline News
  • A referendum on the return of Darfur states to one region 01-07-15, 07:14 PM, SudaneseOnline News
  • Dialogue continues with America to full normalization: Sudan says 12-30-14, 02:43 AM, SudaneseOnline News
  • South Sudan Approves $517M for 2015 Vote 12-27-14, 02:52 PM, Voice of America
  • Sudan's electoral body pushes back elections to 13 April 12-21-14, 04:41 PM, SudaneseOnline News
  • Livestock damages crops in South Darfur’s Kass 12-21-14, 04:04 PM, Radio Dabanga
  • US dollar price rises against Sudan pound 11-23-14, 03:03 PM, SudaneseOnline News
  • No direction to lift subsidies on petroleum products: Sudan’s Parliament 11-16-14, 03:40 PM, SudaneseOnline News
  • An important Statement No (15 ) by Commander / Ismail Khamis Galab The former Governor of Sou 11-06-14, 05:37 PM, اللواء اسماعيل خميس جلاب
  • US dollar rises (8, 9) against Sudanese pound 11-03-14, 00:46 AM, SudaneseOnline News
  • Survivors of Bentiu massacres vanished at Juba airport 10-29-14, 12:25 PM, SudaneseOnline News
  • Saudi Arabia provided financial support to Sudan: Sudan’s Investment Minister reveals 10-22-14, 05:53 PM, SudaneseOnline News
  • In South Sudan, Few Take their Money to the Bank 08-30-14, 04:29 PM, Voice of America
  • Government: Recent measures failed to reduce dollar prices 07-22-14, 09:49 AM, SudaneseOnline News
  • Sudanese authorities must uphold right to fair trials after surge in arrests of women for sale of a 06-27-14, 10:14 PM, SudaneseOnline News
  • Return of restrictions on newspapers criticized 05-21-14, 08:51 PM, SudaneseOnline News
  • Return of restrictions on newspapers criticized 05-21-14, 08:50 PM, SudaneseOnline News
  • New Amnesty International report - Nowhere Safe: Civilians Under Attack in South Sudan 05-11-14, 08:24 PM, SudaneseOnline Press Release
  • Experts call for criminalizing currency speculations 05-01-14, 10:57 PM, SudaneseOnline News
  • Parliament threatens tough measures on rise in dollars against pound next week 04-29-14, 04:19 PM, SudaneseOnline News
  • 'Corrupt' Khartoum staff arrested; US dollar rises to 9.3 Sudanese Pounds 04-26-14, 05:03 PM, Radio Dabanga
  • Darfur civil society initiative calls for resumption peace negotiations 04-23-14, 04:44 PM, Radio Dabanga
  • Fleeing civil war, South Sudanese say national unity is a distant goal 04-08-14, 07:24 PM, Aljazeera news
  • Travel agencies laud presidency decision on stopping collection of ill 01-16-14, 06:25 PM, SudaneseOnline News
  • Her Majesty and walking on edge of the abyss Report: Hussein Saad 01-16-14, 06:05 PM, Hussein Saad
  • Sudan Human Rights and Humanitarian Bulletin Issue No 4 01 – 15 Decem 12-17-13, 07:24 PM, SudaneseOnline News
  • S. Sudan Central Bank Backpedals on Currency Devaluation 11-14-13, 07:02 AM, Voice of America
  • Sudan devalues currency amid economic crisis 11-13-13, 05:25 AM, SudaneseOnline News
  • Flooding Cuts Off Road Linking S. Sudan, Uganda 11-05-13, 04:06 PM, اخبار سودانيزاونلاين
  • The funeral of Salah Sanhouri in Khartoum. Since he was shot in the ba 10-12-13, 11:34 PM, SudaneseOnline News
  • South Sudan negotiating $500mn IMF loan 09-08-13, 07:18 PM, Bloomberg
  • Merck Praziquantel Donation Program to Treat Schistosomiasis Starts in 09-02-13, 06:50 PM, SudaneseOnline News
  • Two Sudans hold summit ahead of oil pipeline deadline 09-02-13, 05:05 PM, SudaneseOnline News