Post
Topic
Board Economics
Re: Rampant inflation, yet a steady exchange rate.
by
hugeblack
on 10/09/2020, 18:33:22 UTC
According to what was reported in some local newspapers[1], the price of the dollar is about 260 Sudanese pounds, which means that the price lost about 42% of its value within 10 days, and speculation continues.
I do not think that what is happening is natural, and according to some news, the speculations that occur in the black market are caused by the fact that some buyers buy in large quantities, so I think that the government is buying dollars from the black market because there are many statements by the Prime Minister who says that the Central Bank does not contain reserves of cash The foreigner.

I think that one of the factors that prompted them to do so was the payment of millions of dollars in damages for the bombings of the United States embassies in Kenya and Tanzania in 1998[2].


The country is also still on the list of terrorism, and finally the devastating flood of the Nile River with COVID-19 effect.

[1] https://www.sudanakhbar.com/816418
[2] Analyst: Sudan Has No Cash to Pay Damages for 1998 Embassy Bombings