Tag Archives: Currency Exchange

Sudan’s Inflation Climbs Over 55 pct in March

Central bank introduced restrictions on withdrawals, leaving many unable to extract their cash from banks

The Sudanese pound hit a record low of about 40 pounds to the dollar last month on the black market, but the devaluations and a ban on deposits of dollars obtained from the black market have reversed this trend.

BY SUDAN TRIBUNE

Sudan’s inflation rate has risen to 55,6% in March compared to 54,34% in February, reported the Central Bureau of Statistics (CBoS)

In January, the director of the Troubled Currencies Programme at Johns Hopkins University Steve Hanke said Sudan’s inflation has skyrocketed to a record high of 122% pointing the East African country “now has the second highest inflation rate in the world after Venezuela”. Continue reading Sudan’s Inflation Climbs Over 55 pct in March

Eritrea: A Prudent Remedy

The ultimate objective of the mandatory financial regulations is to strengthen the national economy and thereby secure the interests and rights of the population at large

Nip in the bud or Heavy Handed? Government has taken temporary stoppage of commercial activities for 450 business enterprises in Asmara for failing to conduct their business affairs in accordance with the new mandatory financial regulations.

BY SHABAIT | EDITORIAL

All substantive commercial transactions must adhere to relevant Bank regulations. This is not only normative but it has also been stipulated in publicly announced, explicit, regulations.

As it will be recalled, the old Nakfa Currency Notes in circulation were redeemed and new Nakfa Currency Notes introduced two years ago; in December 2015. Continue reading Eritrea: A Prudent Remedy