Tracking Dollar Exchange Rate Developments in the Sudanese Market

A report on the fluctuations of the dollar against the Sudanese pound from October through November 1, monitoring changes in the parallel market.

Overview of Price Levels

The Sudanese market experienced volatile movements in foreign currency exchange rates during the second half of October. By the end of the monitoring period on November 1, prices reached 10300 pounds for purchase and 10500 pounds for sale. These figures stabilized from the evening of October 29 until the beginning of November, reflecting fluctuations in financial transactions. This report aims to clarify the price trajectory based on continuous field monitoring, noting that the information covers the period up to November 2, as changes in buying and selling operations continue under current conditions affecting market stability.

Beginning of October Fluctuations

On October 20, trading began at levels around 9300 pounds for purchase and 9479.36 pounds for sale, before experiencing a sharp jump later that day, with selling offers exceeding 9800 pounds and reaching about 10100 pounds by the end of trading. On the following day, October 21, prices recorded 10000 pounds for purchase and 10127.70 pounds for sale, with selling offers reaching 10300 pounds. The upward trend continued on October 22, reaching 10200 pounds for purchase and 10393.17 pounds for sale, reflecting increasing pressure on the national currency during that period amid varying offers from traders in different trading centers.

Price Disparities Mid-Month

During trading on Saturday, October 24, the field survey recorded a purchase price of 10150 pounds, while selling offers ranged between 10200 and 10718.50 pounds. Field monitoring on that date indicated extreme difficulty in determining a stable average price due to the noticeable gap between various trader offers. This disparity reflects the uncertainty that prevailed in the market at that time, as prices differed based on demand volume and liquidity availability, causing traders to face challenges in assessing the fair price of hard currency in the absence of clear stability in daily financial transactions.

Temporary Decline and Subsequent Rise

The market saw a limited decline on October 25, followed by a drop in the dollar price on October 27 to 9600 pounds for purchase and 9800 pounds for sale. However, this decrease was short-lived, as prices rose again on October 28, recording 10100 pounds for purchase and 10400 pounds for sale. This movement showed that the market was affected by rapid fluctuations before reaching levels of 10300 pounds for purchase and 10500 pounds for sale on the evening of October 29. These levels remained constant in subsequent monitoring until November 1, meaning the market ended the month at high levels despite the temporary decline recorded in the final days of the month.

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