Exclusive: Sudan central bank weakens bank trading exchange rate to 31.5 pounds to dollar


© Reuters. Exclusive: Sudan central bank weakens bank trading exchange rate to 31.5 pounds to dollar

KHARTOUM (Reuters) – Sudan’s central bank said on Sunday it had decided to weaken the exchange rate at which banks can trade their dollar supply to an upper limit of 31.5 Sudanese pounds per U.S. dollar.

The bank trading band, now between 28.8 and 31.5 Sudanese pounds per dollar, had previously been capped at 20 Sudanese pounds per dollar.

Sudan devalued its currency to 18 pounds per U.S. dollar last month from 6.7 previously. The pound has weakened to record lows on the black market this year.

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