Record Decline in Sudanese Pound Deepens Hardship for Millions
Omdurman – Mashawir
The Sudanese pound continued its sharp decline against foreign currencies amid rising demand for foreign exchange and dwindling hard-currency resources.
A number of parallel-market currency traders were forced to suspend selling operations following rapid increases in exchange rates, while food prices surged to record levels, further worsening the hardship faced by millions of Sudanese.
Traders in Omdurman said that “the foreign exchange market has witnessed a sharp increase in demand in recent hours,” noting that the US dollar has surpassed 8,000 Sudanese pounds.
The UAE dirham reached around 2,150 pounds, while the Saudi riyal traded between 1,970 and 2,000 pounds. The Egyptian pound was around 150 pounds, while the euro reached approximately 8,665 pounds.
Traders attributed part of the latest surge to increased demand for foreign currency from fuel companies. They said several vessels carrying petroleum products are awaiting unloading, prompting some companies to seek foreign currency from the parallel market to meet their requirements.
