'Sudan forms body of bankers & exchange bureaus to set daily exchange rate'

The Sudanese pound is likely to lose value against the dollar initially, and later stabilise, Governor Mohamed Kheir al-Zubeir said.

Sudanese people queue at a foreign exchange dealer in central Khartoum on 12 October 2017. Picture: AFP.

KHARTOUM - Sudan will begin on Sunday using a body comprised of bankers and exchange bureaus to set its daily currency exchange rate, the central bank governor said.

The Sudanese pound is likely to lose value against the dollar initially, and later stabilise, Governor Mohamed Kheir al-Zubeir said.

The new exchange body will also set the purchase price of gold to counter smuggling, Zubeir said.