Wüstenschiff

Sudan has officially introduced a new currency. The new notes are available in banks and currency exchange points all over Sudan, according to the Central Bank [...] The Central Bank hopes all the old notes will have been replaced within three months, but at this point this is not a hard deadline. The Bank says the new currency is being introduced as a 'precautionary measure', since South Sudan has already brought in its own new currency. It is estimated up to 2bn Sudanese pounds are in circulation in the new country, which has the potential to destabilise Sudan's economy ...

The price of the U.S. dollar in Sudan’s black market for hard currency jumped on Thursday to 5.95 as the country’s central bank further devalued the local pound in renewed efforts to plug the gap with the unofficial trade [...] CBS announced on Thursday that it was fixing a new exchange rate of 5.65 for commercial banks and Forex bureaus alike in order to narrow the gap with the black market rate. CBS said the new rate will be followed by decreasing it to 4.4 following the Eid holiday.

The Sudanese pound has hit another historic low against the US dollar on the black market, as the central Bank of Sudan struggles to supply dollars to buy imports. "The dollar exchange rate has registered a new record as the Sudanese pound declined to 15.6 per dollar" a black market trader told Sudan Tribune on Sunday. Moutasim, a currency trader in Khartoum said that a dollar now coasts 15.6 pounds for small amounts and against 15.9 pounds for big amounts of dollar. He further said that Euro is selling for 17 pounds and Saudi Riyal is selling for 4.5 pounds. The official exchange rate remains 6.25 pounds to the dollar, which is more than 100 % difference from the parallel market value.

The Sudanese pound (SDG) on Friday has hit another historic low against the U.S. dollar on the black market since Central Bank of Sudan (CBoS) has partially floated the exchange rate, last week. Last week CBoS introduced an incentive policy and increased the exchange rate in commercial banks and exchanges by 131%. As a result, the US dollar exchange rate went up in banks to 15.8 SDG in comparison with to the official rate of 6.5 SDG. The exchange rate of the dollar went up to 17.6 Sudanese pounds in the black market on Friday while it was at 15.6 SDG last week when the central bank introduced new policy. On Friday, black market traders told Sudan Tribune that the new incentive policy did not affect the market despite increasing the official exchange rate to 15.95 SDG which was similar to the back market prices [...] “Last week dollar traders stopped selling completely but continued buying,” [...] “We expect that Sudanese pound to continue dropping against foreign currencies because the central bank has no sufficient reserves of hard currency to control the exchange rate,”

The Sudanese pound (SDG) on Tuesday has hit another historic low against the U.S. dollar on the black market as the dollar exchange rate went up to 17.8 SDG from 17.6 SGD last week.

The price of the US dollar has increased on the black market in Khartoum on Monday, settling at 26.00 Sudanese pounds as the authorities continue a crackdown on the Forex traders. Following an unprecedented increase in dollar price last month, the Sudanese authorities introduced new measures allowing for10-year prison term for anyone caught trading on foreign currency outside the banking system or approved institutions. Also, the Central Bank of Sudan (CBoS) revoked business licenses of a number of gold trade companies saying the decision was prompted by their involvement in currency speculations. Money traders told Sudan Tribune on Monday the purchase price of the dollar reached 25,5 pounds while the selling price settled at 26,00 pounds compared to 25,00 and 25,5 pounds on Sunday.

The U.S. dollar price on Wednesday hit an all-time high on the black market as the Sudanese pound declined to 86,00 per dollar. Traders speaking to Sudan Tribune Wednesday in central Khartoum said the purchase price of the U.S. dollar through checks has reached 86,00 pounds while the cash purchase was 69,00 pounds.