Historic collapse of the Sudanese pounds’ value

The US dollar set a new record in terms of exchange rate with the Sudanese pound, in which the latter suffered a terrible decline in value, reaching its lowest level in the history of Sudan, amid expectations that the Sudanese pound will continue its rapid decline to reach more than two thousand pounds per dollar within days.

The price of the US dollar against the Sudanese pound reached 1,800 Sudanese pounds on the parallel (black) market amidst the stifling humanitarian crisis the Sudanese people are currently witnessing as a result of the ongoing war between the Sudanese army and Rapid Support Forces since April of last year.

The Sudanese pound is suffering from a historical and continuous decline in purchasing power and has already recorded lower levels than it has ever before.

The Sudanese pound continues to decline in value against foreign “hard” currencies amid continued decline of the Sudanese economy, where millions of people are becoming unemployed, in addition to the absence of sources of income due to the ongoing war.