Dollar traders resort to new trick after Sudan’s parallel currency market collapses

The last few days have witnessed a significant drop in the price of the dollar in the parallel market, and banks have become competitive with each other, which is more than the price 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 in the evening when 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 this week saw a large influx of dollar holders wishing to sell it, and the US dollar on Thursday recorded stability against the Sudanese pound on the black market and now offers prices below bank prices, as an indicator of the success of the unified pricing system 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 increased tariffs on luxury goods.

On Thursday, July 8, 2021 on the parallel market, according to businessmen and money market traders who spoke to the newspaper (Kush News) in Khartoum, the dollar was registering 450.00 pounds.

The Central Bank of Sudan announced the indicative price of the US dollar on Thursday July 8 and the price stood at 448.15360 pounds to the dollar, while a number of commercial banks announced dollar prices at around 449 -455 pounds per dollar.

As of Sunday, February 21, 2021 AD, the Bank of Sudan announced the unification of the exchange rate and at that time announced 375 pounds to the dollar for guidance, and continued to gradually increase the price, where the increase has so far reached about 73.00 pounds.

Khartoum (Kush News)