Sudan Pound Weakens 15% as Central Bank Allows Currency to Float

The Sudanese pound plunged 15% after the central bank said it will unify the nation’s exchange rates and allow the currency to float.

The Central Bank of Sudan’s plan was announced at a meeting Governor Hussein Yahya Jangoul held Monday with heads of commercial banks and money changers, the state-run SUNA news agency said. The Bank of Khartoum, a private lender, said the official exchange rate weakened to 530 per dollar on Tuesday, compared with a rate of 448 published by the central bank a day earlier.