Sudanese Pound

Sudanese Pound

Sudanese Pound overview

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.

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Sudanese Pound news

Cash runs out in Khartoum as Sudan tries to halt economic crisis | Central Africa

Many cash machines in the Sudanese capital have run out of banknotes as the government scrambles to prevent economic collapse with a sharp devaluation and emergency austerity measures.

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REUTERS NEWS SCHEDULE AT 6 p.m. ET /7 a.m. SGT

REUTERS NEWS SCHEDULE AT 6 p.m. ET /7 a.m. SGT. SPORTS

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US 'terror' listing blocks Sudan's economic revival

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.

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Sudan: Economy Facing Crisis After Sharp Currency Dip

Many Sudanese are complaining after the government's sharp devaluation of the pound Sunday, cutting its official value almost in half, as an already serious economic crisis plagues the country.

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Sudan: Bread, Fuel Shortages Deepen Across Sudan

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.

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Sudanese pound slips on black market after devaluation

Sudan's pound weakened on the black market on Tuesday, widening the gap with the official rate two days after the country sharply devalued its currency.

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UPDATE 2-Sudan says no plans to remove state subsidies after...

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.

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