The Sudanese pound is experiencing a rapid collapse against foreign currencies, coinciding with a new wave of sharp increases in the prices of basic commodities, leading to confusion and stagnation in markets across several Sudanese cities, amidst increasing pressure on citizens’ livelihoods.
Currency traders in Khartoum and Port Sudan reported that the Sudanese pound continued its rapid decline, reaching new record lows in parallel market trading.
According to traders, the US dollar reached approximately 7,180 Sudanese pounds, while the Emirati dirham reached around 1,940 pounds, and the Saudi riyal exceeded 1,835 pounds, in addition to increases in other foreign currencies.
This decline is directly impacting local markets, given the widespread reliance by traders on foreign currencies to import goods and raw materials. In Wad Madani, a tour conducted by Radio Tamazuj in several markets revealed a clear surge in food prices, with some traders halting sales due to the constant price fluctuations and the difficulty in determining the cost of goods.
Prices of several food items have risen by 30 to 40 percent in a short period. For example, the price of a sack of one food item jumped from approximately 190,000 Sudanese pounds to 280,000 pounds, while a 50-kilogram sack of flour surged from 60,000 pounds to 90,000 pounds. Other basic commodities also saw varying price increases.
This price instability has disrupted market activity, with some traders preferring to hold onto their goods rather than sell them, fearing they will be unable to purchase the same quantities at the new prices.
The head of the Sudanese Bakers Union, Musa Akasha, stated that the significant increase in flour and production input prices has directly impacted bread prices, noting that two loaves now cost 1,000 pounds. He warned that bread prices could see further increases if the prices of flour and other production inputs continue to rise, stressing that the ongoing price surge is putting bakeries and citizens in an even more difficult situation.
Citizens are paying the heaviest price.
One citizen said that the continuous rise in the dollar exchange rate has caused widespread stagnation in the markets, noting that commodity prices have risen to what he described as “insane” levels, at a time when citizens’ incomes are no longer able to keep pace with the wave of inflation.
He added that citizens are now unable to afford their basic needs, saying that prices have “exceeded the average citizen’s purchasing power.”
For his part, merchant Kamal Al-Tayeb said that the markets are experiencing a significant recession due to inflation and the continuous decline in the value of the Sudanese pound.
He explained that buying and selling activity has declined noticeably, pointing out that merchants themselves are facing difficulty in setting commodity prices, given the constant fluctuations in the exchange rate and the rising cost of repurchasing goods.
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