Crackdown on Currency Traders in Port Sudan as Dollar Continues to Rise

Authorities in Port Sudan have launched crackdowns on currency traders, arresting several of them in an attempt to curb the surge of the U.S. dollar.

This action led to a temporary dip in foreign currency exchange rates against the Sudanese pound, but the decline was short-lived, with the dollar quickly resuming its upward trend.

In its latest report, the World Bank revealed that Sudan’s economy shrank by an additional 13.5% in 2024, following a contraction of nearly one-third in 2023.

The report also projected that the proportion of the population living in extreme poverty could reach 71% if the conflict continues.

Meanwhile, prices of essential consumer goods have soared dramatically and unexpectedly in Khartoum and across various states, sparking public outrage and complaints. Many people described the price hikes as unjustified and illogical, while traders attributed them to market conditions and the rising cost of foreign currency in Sudan.