Rhino: Follow-up – The Sudanese pound recorded a historic decline this morning, breaking through the 8,000-pound barrier against the U.S. dollar. “Sahih al Sudan” news website quoted currency market traders as saying that growing demand for the dollar has caused the pound’s value to decline steadily, noting that the decline has reached record levels, with the pound’s value falling multiple times a day.

Traders revealed widespread volatility in the parallel currency market after large companies began buying in order to secure foreign currency for importing petroleum products and consumer goods. They predicted that the exchange rate will reach 10,000 pounds to the dollar in the coming days if no intervention occurs to halt the accelerating collapse.

With the sharp rise in commodity prices, some merchants have stopped selling for fear of incurring heavy losses due to capital erosion caused by the pound’s continuous decline.