Email
Print
Save
January 4, 2021 (KHARTOUM) - The Sudanese pound fell on Monday against major currencies as political deadlock continued over the 2021 budget.
- U.S. dollar notes (Reuters/Athit Perawongmetha Photo)
Traders told Sudan Tribune that the dollar was sold at 267 pounds while the Saudi riyal was traded at 71 pounds and the Emirati dirham at 72 pounds. The Euro was sold at 225 pounds.
The dealers attributed the decline in the pound’s exchange rate to an increase in demand for hard currency in addition to the lack of clarity regarding the 2021 budget.
Sharp disagreements have emerged over allocations in the 2021 budget to the security and defense sector compared to the health and education.
The Finance Ministry announced that the Sudanese council of ministers will consider the budget on Tuesday, provided that it is deposited for final approval by January 10th.
Another trader in the black market, who spoke anonymously, told Sudan Tribune: "There is an increase in the demand for hard currency for the purposes of importing goods and fuel."
He pointed out that many companies are waiting for the 2021 budget to be approved to find out what policies it will adopt pertaining to the exchange rate.
The transitional government is banking on obtaining loans that would help support the Sudanese pound’s exchange rate.
(ST)
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