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Sudan to float its currency. Maybe Iraq will follow!
Cash-stripped Sudan will float the country’s currency as economic conditions deteriorate four months after a military coup.
This is a risky move; however, this is the type of news release we would love to see on the Iraqi Dinar. Sudan announced that they are going to float the Sudanese pound which was trading at one U.S. dollar to 444.40 Sudanese pounds (SDG) on March 8, 2022.
The Central Bank of Sudan said banks and exchange firms will determine the value of the Sudanese pound based on supply and demand.
The channel will watch this news story closely to learn more about how the IQD or any of the other currencies we are watching might play out if and when a currency is floated. You should know Sudan is in much worst shape economically and financially than Iraq.
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