Sudanese pound resumes fall after central bank gold purchases undo rally
June 25, 2026 (KHARTOUM) – The Sudanese pound resumed its slide against foreign currencies on Thursday, just hours after a brief recovery, ending late trading at 5,200 pounds to the U.S. dollar as central bank gold buying disrupted the foreign exchange market.
The local currency had initially rallied in morning trading following an injection of foreign currency by the Central Bank of Sudan into commercial banks to cover import demands, parallel market traders told Sudan Tribune.
The central bank’s intervention pushed the dollar down to 4,800 pounds from previous lows, while the UAE dirham fell to 1,370 pounds.
However, the gains were erased after the Sudan Gold Refinery Company, which sets purchase prices on behalf of the central bank and state companies, announced a buying rate of 586 pounds per gram of raw gold.
Gold sector sources said the state-mandated price was significantly higher than market levels, which had already dropped to 540 pounds per gram due to the currency’s morning recovery and a plunge in global gold prices from $4,130 to $3,980 an ounce.
The high government purchase price triggered an immediate market reaction, pulling gold prices back up to 580 pounds per gram and dragging the dollar back to 5,200 pounds by closing.
The sudden reversal came despite statements from the Council of Ministers’ economic development sector, chaired by Finance Minister Gibril Ibrahim, which met on Tuesday to review central bank measures to stabilize the exchange rate.
Central Bank Governor Amna Mirghani Hassan El Tom told the cabinet that the bank would continue supplying hard currency to commercial banks for strategic imports like fuel, medicine, and wheat.
El Tom added that the central bank remains prepared to purchase gold to build the necessary foreign reserves to support the national economy.
Following the cabinet meeting, Finance Minister Ibrahim assured the public that the economic situation was under control, citing the currency’s temporary appreciation over the past two days as evidence that coordinated policies were beginning to yield results.