Historic Collapse of the Sudanese Pound Against the Dollar 

Today, Wednesday, the Sudanese Pound experienced a historic collapse against the US Dollar in terms of its value in the parallel market, reaching (4,300 pounds). Other hard currencies experienced a significant rise in value against the pound as well. 

A trader, who preferred to remain anonymous, told (Assayha) that the parallel (black) market is witnessing unprecedented demand whilst a large gap exists between parallel and official exchange rates at banks and exchange bureaus. 

He added that the dollar is experiencing a steady increase due to traders’ reluctance to sell, coupled with the influence of governmental demand for US dollars on the currency market. He reported that the Saudi riyal reached an exchange value of approximately (1,133.33 pounds), the Emirati dirham reached around (1,158.03 pounds), and the Egyptian pound remained stable at (80.90 pounds). 

Economic experts attributed the continued collapse in the value of the Sudanese Pound against other currencies to the ongoing war, which been ignited in (April 2023), coupled with the increasing government demand for hard currency. They predicted that the Sudanese Pound would continue its decline to new record lows.