Al Ain newsletter
Saturday 8/2/2020 11:59 AM Abu Dhabi time
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The stability of the dollar in Sudan
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The price of the dollar against the Sudanese pound stabilized today, Saturday, in informal (black) parallel market transactions at 99 Sudanese pounds, and the price of the green currency remained at the Sudanese Central at 50.40 pounds for purchase and 50.65 pounds for sale.
The dollar recorded a flat rate for most banks and exchange firms operating in Sudan at 50.40 pounds for purchase and 50.65 pounds for sale.
The exchange markets in Sudan are witnessing a state of cautious calm in anticipation of the decree of a decision taken by the Sudanese government to dissolve the Board of Directors of the Central Bank and a number of other banks.
Last Thursday, the Committee to Eliminate Empowerment and Fight Corruption in Sudan decided to dissolve the boards of directors of the Central Bank of Sudan and 11 other state-owned banks, according to a law aimed at dismantling the regime of ousted President Omar al-Bashir.
The Sudanese committee also sacked the directors of 8 banks, but it kept Badr al-Din Abdel Rahim, the governor of the central bank, in his position.
The Sudanese Central Bank has started moving the official price of the Sudanese pound against the dollar after fixing it for a long time, and according to this move the official price of the dollar has fallen by about 5 pounds since the beginning of 2020.
Earlier, Sudanese Prime Minister Abdullah Hamdock said that his country does not have foreign exchange reserves to protect the value of the pound, and that there is a “structural defect”.
The price of the euro and sterling
According to the Sudanese Central Bank, the price of the euro recorded 55.42 pounds for purchase compared to 55.70 pounds for sale, and the British pound recorded 65.42 pounds for purchase compared to 65.75 pounds for sale.
On the black market, the euro recorded 109.10 pounds, and 128.30 pounds sterling.
The price of the riyal, dirham and dinar
In the Sudanese Central Bank, the Saudi riyal recorded 13.43 pounds for purchase compared to 13.50 pounds for sale, and the Emirati dirham 13.72 pounds for purchase and 13.79 pounds for sale, and the Kuwaiti dinar price reached 164.59 pounds for purchase and 165.42 pounds for sale.
On the black market, the Saudi riyal recorded 26.40 pounds, the UAE dirham 27.13 and the Kuwaiti dinar 240.60 pounds.
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