Central Bank of Sudan unveils new indicative exchange rates

KHARTOUM, Jan 18 (KUNA) -- The Central Bank of Sudan (CBOS) on Thursday announced the new indicative foreign exchange rates to take force at local banks and financial institutions as of this Sunday.
The move aims to attract more remittances from the Sudanese expatriates abroad and encourage exports, according to a CBOS statement of which KUNA received a copy.
The Central Bank set the US dollar exchange rate at 6.9979 Sudanese pounds for buying, 7.0329 for selling and 7.0154 for the middle rate.
The new exchange rates aims to narrow the gap between the official rate and the rate on the parallel market where the US dollar has hit 34 pounds after the adoption of the new state budget. (end) mmm.gb