Financial and Banking News


Sudan Restricts Foreign Exchange Dealing

Foreign currency bank accounts have been frozen and all licensed money changers closed down in Sudan during the past fortnight. In addition the country's dual exchange rate has been amended, and its official rate devalued by 48%. The old official rate of S£1.3=$1 has been devalued to S£2.5=$1, applicable to all exports and official invisible earnings as well as to public sector imports...