UAE deposits $1.4bn with Sudan’s central bank as currency pressure continues

Central Bank of Sudan
The Central Bank of Sudan

A state-owned fund from the United Arab Emirates has deposited $1.4 billion with the Central Bank of Sudan in a bid to increase its stressed foreign currency reserves, locally based correspondents report.

Sudan’s official news agency announced the Abu Dhabi Fund for Development deposited the money, the reporters say.

The central bank devalued the local currency in January and tightened the effective interest rates charged to local banks in February. Different types of institution are currently

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