19 July 2017

Sudan: Weak Sudanese Pound Impacts Market Commodity Prices

Photo: Susanne Nilsson/Flickr
A selection of breads in a bakery.

El Gedaref — Commodity prices in Sudan's El Gedaref have reportedly risen in an unprecedented manner after the Sudanese Pound fell sharply against the US Dollar following the decision by US President Trump to postpone his decision to lift economic sanctions.

"This also comes at a time when the markets are experiencing a significant recession," a resident of El Gedaref told Radio Dabanga. The price of a 50kg sack of sugar 50 kilos has climbed from SDG 650 to SDG 540, while the price of a jerry can of oil has climbed from SDG 520 to SDG 480."

The official rate for the US Dollar quoted by the Central Bank of Sudan is SDG 6.6667, however on the 'parallel market', the Dollar was trading for more than SDG 21 on the streets of Khartoum on Sunday.

The trader from El Gedaref pointed out that the rise in prices included all commodities, and prompted traders to increase the prices of all imported goods.

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