Sudan pound suffers as de facto UAE flight ban hits gold exports

Sudan pound suffers as de facto UAE flight ban hits gold exports

The Sudanese pound has shed nearly two-fifths of its value after a de facto embargo on flights from the army's wartime capital Port Sudan into the United Arab Emirates disrupted the vital gold trade, traders and Sudanese officials said. Read more at straitstimes.com.

Sudanese pound plunges amid gold trade ban

The Sudanese pound has plunged nearly two-fifths after a de facto UAE flight embargo disrupted the nation’s crucial gold trade. The army depends on UAE gold exports for hard currency but accuses the Emirates of backing rival Rapid Support Forces. The UAE, denying support for the RSF, halted all commercial flights from Port Sudan in early August, curbing Sudan’s main trade route. Shipping traffic through UAE ports was also stopped, according to s…