Khartoum - Foreign exchange market witnessed a remarkable decline in the price of the dollar following the signing of the security agreement between Sudan and South Sudan.

Deputy Secretary General of the Exchange Companies Union, banking expert, Abdul Moneim Nour Eddeen stressed that the agreement had a positive effect in the sudden decline of the foreign exchange market. He said some were quick to get rid of the dollar to avoid big losses after the implementation of the agreement. Nour Eddeen expected that the dollar will decline to 5, 5 pounds after pumping of oil. He called for more controls and deterrent penalties for dealers in foreign currency outside the official channels. Nour Eddeen called for the provision of foreign exchange in commercial banks to cover the requirements of essential goods. He pointed to the need to incite the Sudanese expatriates to transfer their savings through official channels.

 

 Nour Eddeen criticized the policy of CBOS in pumping foreign exchange to exchange companies, adding that the said companies established to help commercial banks to attract foreign currency from abroad.