Sudanese Pound Devalued by 19% as Banks Freed to Set Rates

Sudanese authorities have decided to unify the exchange rate of the Sudanese pound, weeks after the currency’s value began to slip again on the black market. (Getty Images)

Sudanese banks were selling dollars at a rate of 530 pounds on Tuesday, a drop of about 19% from the previous rate, after authorities moved to counter a slide in the value of the pound on a resurgent black market.

The central bank said on Monday that banks and currency exchanges would set their own exchange rates without central bank intervention. An emergency economic committee under Sudan's ruling council had said official and black market exchange rates would be unified.