The Sudanese pound (Arabic: جنيه سوداني (Junaih Sudani) is the basic unit of the Sudanese currency. The pound consists of 100 piasters. The pound is issued by the Sudanese Central Bank. Its value is linked to gold and convertible into foreign currencies. There are no restrictions on money transfers to and from Sudan. The Sudanese pound is equivalent to $ 0.056. It has been pegged to U.S. dollar since around 1984. The pound fell for the first time since 1997 after the United States imposed economic sanctions on Sudan. The Sudanese pound continued its decline to an unprecedented number, falling to 53 pounds against the dollar. This situation, which drained all economic measures, led to heavy losses in the external repercussions of the Sudan as a whole, in the light of the government cut, interrupted by some of the failed actions announced by the Central Bank of Sudan, a severe shortage of liquidity. The Sudanese pound fell against the US dollar after the Central Bank of Sudan announced the lifting of the cash reserve to counter inflation. Since the Secession of South Sudan in 2011, Sudan has suffered from a scarcity of foreign exchange for the loss of three quarters of its oil resources and 80% of foreign exchange resources. The Sudanese government quoted the official price of the dollar from 6.09 pounds to 18.07 pounds in the budget of 2018.
Sudanese businessman Samir Gasim was delighted when Washington dropped sanctions against Sudan a year ago, but since then, mounting losses have forced him to lay off dozens of workers at his Khartoum factory.
On Tuesday, the bread and fuel shortages have continued in the Sudanese capital of Khartoum, as well as Sennar, Kassala, New Halfa, Blue Nile, South Kordofan and Wadi Halfa in the Northern state for the third day in a row amid suffering and rise of prices in the Sudanese markets.
Sudan's Prime Minister Motazz Moussa said on Monday the government had no plans to remove state subsidies on essential items while inflation is up and the currency is fluctuating after a sharp devaluation.