Sudan tries to fix its currency exchange rates

A Sudanese economic source mentioned that new monetary policies are expected to be ratified in the coming weeks by the Ministry of Finance and the Central Bank. Those policies aim to achieve stability in currency exchange rates and to reduce dealing in the US dollar to strengthen national currency dealings.

These policies also aim to boost the confidence of the public, reduce the inflation rate, limit the use of the US dollar through new monetary methods, and increase the role of the private sector and by covering the budget deficit with methods that will not increase the inflation.

Other Sudanese economic sources said that achieving stability in the currency exchange rates requires applying strong monetary policies that aim to finance the deficit, increase revenue, use the national currency, and achieve more financial reforms.

The new monetary policies for 1998 directs most of the finance into the agricultural and industrial ones.