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| Africa Subsaharan |
| Sudan suspends dollar's dealing with Saudi Arabia, China |
| 2007-12-03 |
| Sudanese Central Bank has ordered local banks to stop dealing with the US dollar in transactions with Saudi Arabia and China and replace it with both countries' local currencies. The bank, in a circulation made public on Saturday, stated that all remittances to Saudi Arabia will be in the Saudi riyal and through Saudi National Commercial Bank. Dealing with China will be also in yuan. The central bank ordered the Sudanese local banks not to make any monetary transfers to Saudi, or open new credits with the kingdom in any currency other than the riyal, with the exemption of existing and forwardly-paid credits. It decided, last August, to deal with other currencies other than the US dollar because of unilateral economic obstacles imposed by the United States on Sudan. |
| Posted by:Seafarious |
| #1 Makes me wonder if the Saudi Riyal is due for a "Correction"(Crash) soon, pay them in soon-to-be-worthless Riyals, sounds good to me |
| Posted by: Redneck Jim 2007-12-03 14:00 |