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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Sudanese pound is on the way to becoming an ounce

By cpowell
Created 2018-02-04 21:40

Sudan Central Bank Weakens Bank Trading Exchange Rate to 31.5 Pounds to Dollar

From Reuters
Sunday, February 4, 2018

KHARTOUM, Sudan -- Sudan's central bank said today it had decided to weaken the exchange rate at which banks can trade their scarce supply of dollars to an upper limit of 31.5 Sudanese pounds per U.S. dollar.

The Sudanese pound has plummeted to record lows on the black market this year after it was devalued to 18 per dollar from 6.7 following a call by the International Monetary Fund to let the currency float freely.

That band will weaken to 28.8-31.5 pounds per dollar, effective Monday, Central Bank Governor Hazem Abdelqader told Reuters. The black market exchange rate on Sunday was 38 pounds per dollar, according to traders. ...

... For the remainder of the report:

https://www.reuters.com/article/us-sudan-economy-exclusive/exclusive-sud... [1]


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