Sudan central bank cash injection sparks parallel currency market turmoil
JUNE 24, 2026 (KHARTOUM) – Sudan’s parallel currency markets experienced significant turmoil this week following reports that the Central Bank of Sudan injected foreign currency into commercial banks to meet hard currency demands.
The Sudanese pound has faced a sharp decline against foreign currencies in recent weeks, driven by surging demand for foreign exchange, which has pushed the prices of essential goods to unprecedented heights.
Parallel market traders told Sudan Tribune that the local currency initially weakened further on Tuesday morning, with the U.S. dollar trading at 5,800 pounds, up from 5,500 pounds on Monday. However, trading concluded late Tuesday afternoon at 5,300 pounds.
The UAE dirham followed a similar trajectory, hitting 1,610 pounds before retreating to 1,490 pounds by the end of business. Traders noted that the market became erratic immediately after information emerged about the central bank’s foreign-currency injection.
One trader said the pound will continue to recover gradually if the foreign currency injections persist, but warned of a significant collapse in value if the supply stops.
A banking source confirmed to Sudan Tribune that the central bank remains in communication with commercial banks to cover their foreign exchange requirements. The source declined to disclose the exact volume of hard currency injected into the system.
The central bank is expected to continue supplying commercial banks with substantial amounts of foreign currency in the coming days to stabilize the exchange rate, the source added.
The official noted that the current demand in the parallel market does not reflect actual economic needs but is instead driven by currency speculation.
As part of state efforts to restore economic stability, Finance Minister Gibril Ibrahim chaired a task force meeting on Tuesday to address urgent economic challenges related to exports and imports.
The meeting concluded that stabilizing the exchange rate is closely tied to macroeconomic reform, increased coordination between monetary and fiscal policies, and boosting real domestic production.
Officials emphasized the need to regulate the gold and petroleum products sectors, citing them as critical to exchange rate stability. They called for tighter controls to ensure all export revenues are routed through official banking channels.
The task force also urged incentives for local production to shift from raw material exports to value-added products, aiming to reduce the consumer import bill and diversify foreign currency inflows.