Sudan's central bank receives $1.4bn to bolster foreign currency reserves

A merchant in Birao, northern Central African Republic, shows Sudanese bank bills on December 20, 2017. (AFP)
Updated 13 March 2018
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Sudan's central bank receives $1.4bn to bolster foreign currency reserves

KARTOUM: The Sudanese news agency announced on Tuesday that the Central Bank of Sudan will receive a $1.4 billion deposit from UAE to support its foreign currency reserves. 

Abu Dhabi Fund for Development said that the cash deposit is intended to help Sudan overcome foreign currency shortages.

The value of the Sudanese pound has fallen on the Sudanese black market. The deposit could help Sudan fend off further currency pressures.

As the country battled soaring inflation, the country has devalued its currency against the U.S. dollar. The move was a bid to attract foreign investment but foreign currency remains in short supply in the legitimate Sudanese banking system.

 


Iran’s new supreme leader ‘safe and sound’ despite war injury reports: president’s son

Updated 37 min 51 sec ago
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Iran’s new supreme leader ‘safe and sound’ despite war injury reports: president’s son

TEHRAN: Iran's new supreme leader Mojtaba Khamenei is "safe and sound" despite reports of an injury during the war with Israel and the United States, said the son of the Iranian president on Wednesday.
"I heard news that Mr Mojtaba Khamenei had been injured. I have asked some friends who had connections. They told me that, thank God, he is safe and sound," said Yousef Pezeshkian, who is also a government adviser, in a post on his Telegram channel.
State television had called Khamenei a "wounded veteran of the Ramadan war" but never specified his injury.
The new supreme leader is the son and successor of the Islamic republic's longtime ruler Ayatollah Ali Khamenei, who was killed in US-Israeli strikes on Iran on February 28 which triggered a war across the Middle East.
The 56-year-old Mojtaba Khamenei, a discreet figure who has rarely appeared in public or spoken at official events, has yet to address the nation or issue a written statement since he was declared supreme leader on Sunday.
In a Wednesday report, the New York Times quoting three unnamed Iranian officials said that Khamenei "had suffered injuries, including to his legs, but that he was alert and sheltering at a highly secure location with limited communication".