The move meets key demand by international financial institutions to help Sudans transitional authorities overhaul its battered economy.
The Central Bank of Sudan has sharply devalued the currency, announcing a new regime to unify official and black-market exchange rates in an effort to overcome a crippling economic crisis and access debt relief.
The change on Sunday is a key reform demanded by foreign donors and the International Monetary Fund (IMF), but was delayed for months as shortages of basic goods and rapid inflation complicated a fragile political transition.
The central bank set the indicative rate at 375 pounds to the US dollar, several commercial banking sources said, from a previous official rate of 55 pounds. Recently, …
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