Sudan's Central Bank floats currency

[المستشار الصحفى]

الصحف المصرية والعربية

Sudan's Central Bank said Sunday it had partially floated the currency and announced a new regime to unify the official and black market exchange rates, Anadolu Agency*reports. In a statement, the bank said the "decision aims to unify and stabilize the exchange rate, transfer resources from the parallel market to the official market, and attract remittances from Sudanese working abroad through formal channels." The decision is intended to grant the Central Bank full powers to intervene to stabilize the exchange rate if the limits it sets are exceeded. The bank said the move aims to attract foreign investments and normalize relations with regional and international financing institutions in order to attract grants and loans and encourage producers, exporters, and the […]

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