Sudanese oil transfers could help
Khartoum – Abedalgoum Ashmeag
The price of the US dollar has escalated once again on the Sudanese exchange, reaching seven Sudanese pounds after prices on the parallel market jumped on Wednesday.
The Sudanese Central Bank have attributed the price hike to current political and security developments inside the African country.
Central Bank deputy governor Badr al-Din Mahmoud has instead pointed to trader speculation on the parallel market for the rise in US currency prices.
“The issue is temporary and instantaneous,” Mahmoud was quoted as saying by the Khartoum newspaper, adding that he expected the greenback to decline once oil transfers from South Sudan commenced soon.
Economist and former Finance Minister Ezz Eddin Ibrahim has meanwhile told Arabstoday the decline in the dollar had been expected and was “not linked” to flows in real cash.
“Expectations should have been enhanced by real flows but traders started to buy up the dollar along with other foreign currencies, hence the demand,” he claimed.
Security conditions, including rebel attacks on disputed areas in North and South Kordofan, had also contributed to the development.