KHARTOUM (Reuters) – Sudans central bank sharply devalued the currency on Sunday, 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 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 dollar, several commercial banking sources said, from a previous official rate of 55 pounds. Recently, the dollar traded at between 350 and 400 Sudanese pounds on the black market.
The central bank will set a d…