The Central Bank of Sudan said on Wednesday it had received its first overseas fund transfer in US dollars since Washington announced the lifting of a 20-year-old trade embargo against Khartoum.
In a press statement, the bank said it received two transfers, one from the US and the other from Europe.
Washington last week announced the lifting of sanctions from this on Thursday onwards, saying Khartoum had made progress on conditions set for ending the embargo, in place since 1997.
“The transferring of American dollars has commenced after the lifting of sanctions,” according to the statement from the Central Bank of Sudan.
After a few hours of the US administration’s decision to lift economic sanctions on Sudan, the price of the Sudanese pound against a number of foreign rose in the currency market in the capital Khartoum, but observers expect the dollar to rise again if government decisions are not supported local currency.
The US dollar had fell unexpectedly, according to traders in the parallel Khartoum market, recording a four pound drop in less than two days, falling from 21.5 pounds per dollar to 18 pounds.