Sudan Let Banks Set Dollar Rates and the Pound Hit a Record Low

SUDAN · MARKETS

Key Facts

—The level: The Sudanese pound touched 6,400 to the US dollar on the parallel market on Thursday 27 August, an all-time low. Traders told Reuters the dollar changed hands between 6,350 and 6,400 at the close.

—What triggered it: The Central Bank of Sudan issued Policy Management Circular No. 16/2026 on Monday 24 August, repealing previous restrictions on declared rates. Commercial banks may now adjust those rates and buy export revenues according to supply and demand.

—The stated aim: The central bank says the measure advances a managed float and narrows the gap between the formal banking system and the parallel market.