The Sudanese pound rises on the black market after the emergency law


The selling price of the dollar was 230 Sudanese pounds (AFP)

On Sunday, the Sudanese pound exchange rate rose against the dollar in the informal (parallel) market transactions in the capital, Khartoum, by 16 percent.

The selling price of the dollar was 230 pounds, compared to 275 pounds, which it had reached last week, in an unprecedented decline in the national currency.

Currency dealers said that an increase in the exchange rate of the Sudanese pound against the dollar has occurred, following the activation of the economic emergency law, starting last Thursday.

The Sudanese Central Bank sets the official price of the dollar at 55 pounds, and currency dealers are afraid of a sharp fluctuation in the exchange rates, which prompted most of them to publicly suspend sales and purchases, as it was in the previous period.

On Thursday, the Sudanese government announced the activation of the economic emergency and the formation of special forces to protect the economy from sabotage, accusing unnamed parties of waging a political war that uses the economy to thwart the revolution and democratic transformation in the country.

Minister of Justice Nasr El-Din Abdel-Bari confirmed the establishment of special prosecutions and courts to confront speculation in the dollar and gold, and Abdel-Bari revealed a new law providing for additional procedures for dealing with cash after consulting with the Central Bank.

Sudan suffers from renewed crises in bread, flour, fuel and cooking gas, as well as a continuous deterioration in its national currency.

(Anatolia, the new Arab)


Please enter your comment!
Please enter your name here