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Sudan is to devalue its currency to 18 Sudanese pounds per dollar in January from the current exchange rate of 6.7, the finance minister said Tuesday.Traders said the black market rate jumped to 27 SDG per dollar from 25 SDG per dollar Tuesday after the devaluation was announced.The Sudanese pound has weakened sharply against the dollar since Washington lifted 20-year-old economic sanctions in October, encouraging traders to step up imports and putting pressure on scarce hard currency.Businesses are unable to secure their hard currency needs at the official peg of 6.7 pounds to the dollar and are forced to resort to a parallel market.
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