Financial and Banking News

BUDGETS AND REVENUES

Sudan Devalues Currency

Sudan has devalued the commercial rate of its dual exchange system by 14.4% from S£1.18=$1 to S£2.10. The 'official' rate of S£1.30 remains unchanged. Like Egypt, Sudan uses a 'currency pool' system, which has been amended so that the official rate is now used only for exports of cotton and gum arabic and for public sector imports. The commercial rate now applies for all other...