[ad_1]
Reuters
Sudan moves dollar customs rate, says it could phase it out
The Sudanese Customs Authority said on Wednesday that it had slightly revised the exchange rate it uses to calculate duties and taxes on imports and that it may cancel the customs dollar as the Sudanese pound stabilizes.
He said the new price would be 20 Sudanese pounds to the US dollar, after 18 pounds, which is a much higher valuation of the local currency compared to the around 379 pounds offered today, Wednesday, in the official markets. and black.
He ruled out the customs rate from a new system announced by the Central Bank on February 21 that aims to unify the official exchange rate and the black market price to help Sudan overcome a stifling economic crisis and secure a debt relief, while earlier the official exchange rate for the Sudanese pound was set at 55 per dollar.
The amendment, which had been requested by foreign donors and the International Monetary Fund, was expected late last year but was postponed as a commodity shortage and accelerating inflation worsened .
Customs officials have said the customs dollar could be canceled completely gradually because the pound is now “clearly stable against foreign currencies” and is expected to rise.
She added: “This recovery of the pound is the main reason that will lead to the cancellation of the customs dollar, which is no longer necessary for its existence based on the data provided.”
Source: Reuters
[ad_2]
Source link
