Sudanese central bank weakens foreign exchange rate for banks

Central Bank of Sudan

Sudan’s central bank has significantly weakened the rate at which the country’s banks can trade domestic for foreign currency, after carrying out a major devaluation of the currency in January.

Central bank governor Hazem Abdul Qader told locally-based reporters on February 4 that it was raising the band within which the country’s banks can exchange Sudanese pounds for US dollars. The rate rose from a band of 16 to 20 Sudanese pounds per dollar to a band of 28.8 to 31.5 pounds per dollar,

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