In a Journey of Rapid Decline… The Sudanese Pound approaches the 6,000 mark per dollar
Recently, the Sudanese pound continued its record-breaking decline in value against foreign currencies, as the gap between official bank rates and the parallel market widens significantly.
A currency trader, who preferred to remain anonymous, told (Assayha) that the U.S dollar reached an exchange rate of (6,000 Sudanese pounds) on Thursday, coinciding with record high rates for other currencies.
He added that traders in the parallel market were reluctant to sell currency, which indicates the rapid depreciation and instability of exchange rates in terms of the Sudanese pound.
Furthermore, he shared that the Saudi riyal reached (1,580 pounds), whilst the Emirati dirham, euro, British pound and Egyptian pound reached exchange rates of (1,593 pounds), (6,487 pounds), (7,650 pounds) and (115 pounds), respectively.
He reported that the gap between official bank rates and the parallel market rate is widening by more than (2,000 pounds per dollar), a disparity he believed underscores the escalating economic crisis in the Sudanese currency market and economy.
For their part, traders in the parallel market believe that the prices of the US dollar and other foreign currencies against the Sudanese pound will continue to multiply.
One trader further explained that the dollar has resumed its upward trend after a period of relative stability, predicting it will surpass the (6,000 pound) mark in the coming period, after its current price fluctuated between (5,900 and 5,950 pounds).
The Sudanese economy is facing a persistent crisis due to the ongoing war since 2023, which has, naturally, resulted in extremely negative effects and directly impacted the lives of citizens due to the never-ending increase in the prices of basic commodities.
