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FinancialNews


  • 08-10-18

    Sudan to use new mechanism in daily exchange rate setting

    (MENAFN) Sudan was declared to be setting its daily exchange rate through a new system amid a struggle with devaluation in its currency.

    Sudan is to use a new body of banks and exchange bureaus in setting the daily exchange rate, in line with a plan to handle the economic calamity, as unveiled Sudan's central bank governor Mohamed Kheir al-Zubeir.

    It comes after the pound registered a decline, trading 47.5 to the US dollar compared to 29 pounds to the dollar.

    Head of the bankers' union Abbas Abdallah confirmed that "the mechanism met and set the pound rate at 47.5 pounds to the dollar."

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