(MENAFN)Sudan’s Central Bank increased the currency and proclaimed a new rule to join the official and black market exchange volumes.
The “decision aims to unify and stabilize the exchange rate, transfer resources from the parallel market to the official market, and attract remittances from Sudanese working abroad through formal channels,” it further stated.
The pronouncement plans to give the Central Bank full powers to mediate to steady the exchange volume if the limits it sets are beat.
The move plans to draw foreign investments and normalize ties with regional and international financing institutions in order to attract grants and loans and encourage producers, exporters, and the private sector with a fitting exchange volume, the bank added.
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