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- For the first time .. Sudanese pound "recovered"
For the first time .. Sudanese pound "recovered"
The Sudanese pound rose to 46.95 pounds per dollar on Sunday, the first rise in its value since the government introduced a new mechanism last week, according to bank officials and exchange offices, setting the exchange rate daily.
Last week, the price was set at 47.50 to the dollar at a sharp cut compared to the previous official price of about 29 pounds to the dollar.
The rally came after the central bank announced its injection of liquidity in local banks to enable it to buy foreign currencies from customers.
Sudan's economy has been struggling since the south split in 2011, taking three quarters of oil production, depriving Khartoum of an important source of hard currency, according to Reuters.
In the context, Khartoum abolished import restrictions imposed last year on 19 foodstuffs and other items in an effort to reduce the deficit and protect the Sudanese pound.