The US Dollar Exchange Rate Fuels Price Hikes 

Recently, the Sudanese pound’s value plummeted to record lows in comparison to foreign currencies, experiencing a historic collapse against the US dollar on the parallel market, effectively heralding a state of severe shortage and reluctance amongst currency traders to sell hard currency. 

For his part, a currency trader, who preferred to remain anonymous, told (Assayha) that the dollar’s exchange rate on the parallel market has exceeded (6,000 Sudanese pounds), amidst severe shortage of hard currency due to traders’ refusal to sell foreign currencies in exchange for Sudanese pounds. 

Furthermore, he attributed the dramatic increase in currency exchange rates against the Sudanese pound to high demand in an effort to meet import needs, noting the chaotic situation dominating the currency market compound with the failure of all attempts to curb the rise of the dollar and other hard currencies’ values against the Sudanese pound. 

Citizens complained of a steady increase in the prices of basic commodities and a volatile market culture due to the soaring dollar exchange rate whilst a significant number of goods became scarce, suggesting that the specter of an undeclared famine seems to be looming over the country. 

Consequently, the price of a gallon of gasoline exceeded (40,000 Sudanese pounds), at a time when one kilogram of sugar costs (5,000 Sudanese pounds), and the price of a single kilogram of meat increased in an exacerbated manner to cost (50,000 Sudanese pounds), whilst a single piece of bread costs (350 Sudanese pounds).