Sudan on Thursday decided to reactivate the state of economic emergency and establish joint forces to stop the deterioration of the pound, which triggered public panic and insecurity.
The exchange rate of one US dollar jumped from 190 to 250 Sudanese pounds in the parallel market on Thursday against the official rate set by the central bank at 55 pounds.
"Reactivation of the state of economic emergency includes deterrent procedures and laws to protect the economy and declaration of emergency courts and prosecutions," Hiba Ahmed Ali, Sudan's acting minister of finance and economic planning, said at a press conference in the capital Khartoum.
"The insane rise in the exchange rate of the US dollar was ... rather a sabotaging process to the Sudanese economy and the chocking of the government," she added.
She reiterated that the government would not hesitate to deter the manipulators.
The currency’s slide has led to a significant hike in the prices of basic and essential commodities, which intensified the suffering of the citizens.
“We are able to simply say what happened is an open war against the revolution, the economy, the government,” Information Minister Faisal Saleh told a news conference.
On Thursday, Justice Minister Nasreddine Abdelbari said the government hardened smuggling penalties from one month to 10 years in jail.
Abdelqader al-Sir, a Khartoum-based money exchanger, said that the US dollar rate began to rise a week ago.
Speaking to Asharq Al-Awsat, al-Sir predicted that the dollar rate will continue its hike against the depreciation of the local currency due to high demand for the US dollar and low supply.
In August, the Sudanese transitional government approved an amended budget for 2020 that included policies for a gradual adjustment of the exchange rate and the customs rate of the dollar.
