The Sudanese pound plunged to a record low in the parallel market on Thursday afternoon, highlighting the country’s deepening economic crisis.
The US dollar climbed above 6,200 Sudanese pounds in parallel market trading across several cities, reaching an unprecedented level.
The sharp decline marks the currency’s biggest slide since early last week, adding pressure to Sudan’s war-hit economy.
Currency traders blamed the depreciation on a severe shortage of foreign banknotes in regional markets.
They also pointed to growing economic divisions between junta-controlled Khartoum and Port Sudan, which have disrupted the distribution of foreign currency.
Strong commercial demand further reduced limited supplies, while heavy buying pushed exchange rates higher during morning trading.
Meanwhile, official banks kept their exchange rates largely unchanged despite mounting economic and monetary pressures.
The widening gap between official rates and parallel market prices reflects increasing strains on Sudan’s financial system.
The latest decline surpassed the previous record set in mid-July after two days of volatile trading.
Further updates are expected as Sudanese citizens face the impact of the currency’s continuing depreciation.
