Sudanese Pound continues slide against US Dollar

The US Dollar was trading at SDG14.7 in Sudan’s parallel market on Tuesday, as demand for the greenback continues to outstrip supply.

Economic expert and analyst Dr Faisal Hassan Awad, told Radio Dabanga that the fall of the Sudanese Pound against foreign currencies will not stop as long as there are no Sudanese product exports.

Awad attributed the continuing decline to the lack of Sudanese exports. “Contrary to the claims of the ruling regime, Sudan lacks any exports whether agricultural, industrial or mineral. This is now reflected on the current exchange rate and economic life in general.”

 The Sudanese Union of Factory Owners has warned of the collapse of local industry due to increased fuel prices for factories.

Last week, the Oil Ministry announced a 105 per cent increase. The price of a litre of diesel rose from SDG3.10 ($0.51) to SDG6.30 ($1.04).