Home | News    Monday 30 November 2020

Sudanese pound continues to tumble

separation
increase
decrease
separation
separation

November 29, 2020 (KHARTOUM) - The Sudanese pound continued to slide against all major currencies driven by increased demand amid fears related to the spike in COVID-19 cases.

FILE - A man counts notes after receiving the new Sudanese currency at a central bank branch in Khartoum July 24, 2011 (REUTERS/ Mohamed Nureldin Abdallah)

The Sudanese ministry of health is reportedly planning to submit a formal recommendation to the Security and Defense Council asking for the imposition of a nationwide curfew.

Black market traders who spoke to Sudan Tribune on Sunday said that one dollar was sold at 268 pounds versus 266- 267 on Thursday.

The selling price of the Saudi riyal was recorded at 71 pounds, Emirati dirham at 72 pounds while the euro sold at 315 pounds.

The traders attributed the decline of the pound to the scarcity of supply with an increase in demand as well as speculative trading coupled with worsening covid-19 situation.

One of the traders disclosed that several major entities are resorting to the black market for their Forex needs particularly importers in anticipation of possible covid-19 restrictions.

On Thursday, the Minister of Energy and Mining in Sudan Abdul Rahman Khairy sent a stern warning against the deterioration of the exchange rate.

Khairy said that the decline in national action has a bad effect on the policy of rationalizing fuel subsidies, which was implemented about a month ago, stressing the need for state intervention that could lead to increases in fuel prices.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.


The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Invisible female victims of armed militia attacks in Darfur 2021-01-08 15:19:56 By SIHA Network* On October 19th 2020, an armed group burned down the IDP camps of Oum Assal, Babanousa and Om Zegerat in Gerida locality. Gerida locality is composed of a number of villages (...)

Account Inventory for December Revolution in Sudan 2020-12-19 20:34:35 By Mahmoud A. Suleiman This article comes against the backdrop of Sudan's Third Revolution as some like to call it, two years later during which Much has been achieved but risks still remain, (...)

SPLM pinning tales of lies to cover up failures! 2020-12-17 20:03:56 by: Khor Dol Kai It should be very clear, by now, that no single progress will be made or ever made-whether in short or long run-to reverse the damages already done and the seeds of division (...)


MORE






Latest Press Releases


Sudan: Performing arts is not a crime, assaulting women and artists is! 2020-09-20 08:54:28 The Strategic Initiative for Women in the Horn of Africa (SIHA) Sudan is still struggling with militant Islamist ideology KHARTOUM: Central Khartoum Primary Court issued a verdict against five (...)

Civil Society Statement in Response to The Law of Various Amendments 2020-08-14 07:11:00 A Collaborative Civil Society Statement in Response to The Law of Various Amendments (Abolishing and Amending Provisions Restricting Freedom) – Exposing ‘a wolf in sheep’s clothing’ Sudanese women (...)

Remarks by SRF leaders at the Friend of Sudan meeting on peace 2020-08-13 07:58:58 Chairman of the Friends of Sudan Conference, Your Excellency, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, The Prime Minister of Sudan and the participating team from the (...)


MORE

Copyright © 2003-2021 SudanTribune - All rights reserved.