| In the first weeks of 2018, the Sudanese pound devalued rapidly, going from 32 SDG to the dollar to 44 SDG in just a few days. People rushed to withdraw their savings to purchase dollars or gold.|
The banks responded by quickly limiting the amount of money people could take out. Sudan’s official inflation rate in January soared to 52%. Sudan’s implied inflation based on black market rates was much higher at 122%, the world’s second highest after Venezuela.
Monday, March 5, 2018
Sudan’s soaring inflation
Labels: Sudan’s soaring inflation