The dollar, against the Sudanese pound, rose slightly on Saturday, March 6, 2021, during informal parallel market trading.
The average exchange rate of the Sudanese pound, during saturday’s trading on the black market, stabilized against the euro, the pound sterling, while the Saudi riyal, the Uae dirham and the Kuwaiti dinar fell.
The average dollar price in Sudan, during the beginning of saturday’s trading on the black market, rose to about 380 pounds, compared to about 379 pounds at the close of trading on Friday.
The U.S. dollar was flat on the trading screens of the Central Bank of Sudan, when it opened trading On Saturday, at about 378.26 pounds for purchase, and 380.15 pounds for sale.
Central Bank monopolizes the purchase of gold
The Sudanese government decided to control gold exports by the Central Bank of Sudan to buy local gold at international stock exchange prices and export it while accelerating the establishment of a Sudanese gold exchange.
Over the past years, the purchase and export of gold has been permitted to the private sector, and the government of the deposed Omar al-Bashir tried in its last days to monopolize the Central Bank of Sudan but retreated, freeing the sale of gold a few days later.
Reforming the deteriorating economy is one of five priorities that the newly reconstituted transitional government is working towards.
Eur and GBP
The average euro in Sudan on Saturday settled on the “black” parallel market at around 458 pounds.
The euro remained on the screens of the Central Bank of Sudan, steady at 455.87 pounds for purchase and 458.15 pounds for sale.
The average price of sterling in Sudan, when opening on Saturday, also settled on the “black” parallel market, at around 523 pounds.
The pound at the official banks was priced at 527.42 pounds for purchase and 530.06 pounds for sale, the same as Friday prices.