Banks compete to buy the dollar, and the shadow market experiences stability and investment opportunities

The last few days have been marked by a stable dollar price on the parallel market, and banks have offered competitive prices among themselves, often higher than those offered by the parallel market.

Observers have revealed that many currency traders have resorted to a ploy to coexist with the new situation as they buy dollars below the price of banks, especially at night when the banks are not working and then sell. their products the next day. to the bank that offers a higher price.

Banks in the capital, Khartoum, and cities in the Sudanese states, in recent weeks have seen a surge of dollar holders looking to sell it, and the US dollar posted stability against the Sudanese pound on Thursday. on black. market, and it began to offer prices below the price of banks or the like, as an indicator of the success of the unified pricing system that it was launched by the transitional government in February of this year.

Some observers believe that there are government measures that have led to the decline of the dollar, including restricting the importation of small cars, which has helped reduce the demand for the dollar and improve the value of the Sudanese pound, in addition to security campaigns that have driven banknote merchants out of the banking system, with the commitment of the Central Bank of Sudan to supply the dollar to importers through weekly auctions, as well as increasing tariffs customs duties on luxury goods.

Thursday, July 15, 2021 on the parallel market, and according to businessmen and money market traders who spoke to the newspaper (Kush News) in Khartoum, the dollar traded at 450.00 pounds.

The Central Bank of Sudan announced the indicative price of the US dollar on Thursday, July 15, and the price stood at 444.01000 pounds to the dollar, while a number of commercial banks announced the prices of the dollar at around 448-452 pounds to the US dollar. dollar.

As of Sunday, February 21, 2021 AD, the Bank of Sudan announced the unification of the exchange rate, then announced 375 pounds to the dollar as the indicative rate, and continued to gradually increase the price, where the increase has has so far reached around 69.00 pounds.

Khartoum (Kush News)