The parallel market pays a painful blow to banks, with the dollar appreciating significantly against the Sudanese pound

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The parallel market for foreign currencies in Sudan has returned to impose its ferocious control over the scene.

Some banks in Khartoum changed their rates twice on Thursday to narrow the difference with the parallel market and did not succeed, as a banking source told Kush News revealed the low purchases of foreign currencies by banks during the past two weeks.

Some believe that the parallel market has dealt painful blows to the banks by offering a higher price than it, but it is characterized by the speed of completion and payment of the corresponding money in large denominations and at any time it provides the services of buying and selling for dollars anywhere in the world, while banks have angered people because they buy only and sell only in Rare cases and complicated procedures.

The US dollar against the Sudanese pound continued on Thursday, with the conclusion of the week’s transactions, to rise in banks and the parallel market, and the Bank of Sudan continued to gradually increase the indicative price, which banks would follow, as the increase so far amounted to about 25 pounds as of Sunday, February 21, 2021 AD.

On Thursday, May 6, 2021, in the parallel market, according to businessmen and money market dealers who spoke to Kush News in Khartoum, the dollar recorded 408.00 pounds.

The Central Bank of Sudan announced the indicative price of the US dollar on Thursday, May 6, 2021 AD, and the price came to 400.21310 pounds for the dollar, while the price in some banks in the Sudanese capital on Thursday reached 405 pounds for the dollar in a continuous race and competition with the parallel market.

As of Sunday, February 21, 2021 AD, the Bank of Sudan announced the unification of the exchange rate and announced at that time 375 pounds to the dollar as an indicative price and continued to gradually increase the price, as the increase so far amounted to about 25.2 pounds.

Khartoum (Kush News)





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