October 4, 2018 / 12:05 PM / a year ago

Sudan forms body of bankers and exchange bureaus to set daily exchange rate -cbank governor

KHARTOUM, Oct 4 (Reuters) - Sudan will begin on Sunday using a body comprised of bankers and exchange bureaus to set its daily currency exchange rate, the central bank governor said.

The Sudanese pound is likely to lose value against the dollar initially, and later stabilise, Governor Mohamed Kheir al-Zubeir said.

The new exchange body will also set purchase price of gold to counter smuggling, Zubeir said. (Reporting by Khalid Abdelaziz Writing by Aidan Lewis Editing by Raissa Kasolowsky)

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