The price of the dollar stabilized today in Sudan, Monday, February 21, 2022, at the Central Bank of Sudan and also in the unofficial (black) parallel market.
The demand for the green currency in Sudan has declined during the current period, amid anticipation by investors for the Federal Reserve’s announcement of new interest rates, which are likely to be increased by 1.25% in stages.
Indicative dollar price today in Sudan
The Central Bank of Sudan set the indicative price of the dollar against the Sudanese pound, today, Monday, at 442.99970 pounds, compared to a profit margin of 0.75% for banks and exchanges, provided that it does not exceed (negative / positive 5%).
Since Sudan devalued its local currency against the dollar, the value of the gross domestic product (GDP) has fallen to only $13 billion, after reaching $108 billion before February 2021.
The value of the average per capita income also declined to only $314, down from $2,500, and the external debt, the equivalent of the local currency, rose from 3 trillion pounds to 24.6 trillion, equivalent to 400% of the estimated GDP for 2022.
Sudan economy
The increase in US interest rates poses a limited risk to the economy of Sudan at present, as the increase in the US interest rate to about 1.25% keeps it among the lowest interest rates compared to the eighties of the twentieth century.
Therefore, the effects will not be significant on the economies of the Arab League due to the increase in interest, but the significant impact will already result from the rise in inflation in the American economy, which will cause a wave of rising commodity prices in the world, because inflation will affect the actual value of the dollar, which is the currency to which most of the currencies are linked. The currencies of the Arab region.
Regarding the impact of raising the US interest rate on Sudan’s loans, the economist Al-Fateh Othman says that it will likely be positive, because raising the interest will push money from different countries of the world towards American banks, which in turn will look for parties to lend them, but at a slightly higher cost compared to last year, and in light of the current inflation In the US, a rate hike is considered fair and acceptable to investors.
The price of the dollar today in Sudan
The price of the dollar in Sudan stabilized today, Monday, February 21, 2022, at the Central Bank of Sudan at the level of 443.00 pounds for purchase, and 446.32 pounds for sale, which are the same prices at the end of trading yesterday, Sunday.
As for the price of the dollar in Sudan on the unofficial (black) parallel market, it has stabilized at the level of 480 pounds.
The price of the euro and the pound today in Sudan
The price of the euro rose in Sudan today, Monday, at the Central Bank of Sudan, to the level of 503.32 pounds for purchase, and 507.1 pounds for sale, while in the unofficial (black) parallel market today, it reached about 583 pounds.
While the price of the pound sterling in Sudan rose today, Monday, at the Central Bank, to about 603.38 pounds for purchase, and 607.9 pounds for sale, and the price of the pound sterling on the Sudanese black market recorded 671 pounds.
The price of the riyal, dirham and dinar today in Sudan
And the price of the Saudi riyal in Sudan, at the beginning of trading today, Monday, with the Central Bank of Sudan, scored about 118.09 pounds for purchase, and 118.97 pounds for sale.
And the price of the Saudi riyal on the unofficial (black) parallel market today, Sunday, recorded about 127 pounds, which is the same price at the end of trading on Sunday.
And the price of the Emirati dirham in Sudan, when opening transactions today, Monday, with the Central Bank, was about 120.63 pounds for purchase, and 121.53 pounds for sale.
The price of the UAE dirham on the unofficial (black) parallel market today came at the level of 129 pounds.
The trading screens of the Central Bank of Sudan today showed the price of the Kuwaiti dinar against the Sudanese pound at the level of 1457.23 pounds for purchase, and 1468.17 pounds for sale.