Finance minister links Sudanese pound’s decline to rising demand for dollars in oil imports ...Sudan

October 7, 2023 (PORT SUDAN) – Sudan’s Finance Minister, Gibril Ibrahim, attributed the decline in the value of the Sudanese pound to heightened demand for the US dollar, primarily for importing oil, following the closure of the country’s oil refinery on July 21. In mid-September, the black market exchange rate for the dollar reached approximately 900 pounds per dollar before experiencing a modest improvement and stabilizing around 840 pounds per dollar. In statements to the official Sudan News Agency, the Minister said that the drop in the Sudanese pound’s value can be attributed to “the increased need for the dollar to import petroleum derivatives, especially after the Khartoum refinery’s

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