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Sudanese pound gains on black market on second day after devaluation

KHARTOUM (Reuters) - The Sudanese pound strengthened against the dollar on the black market on Tuesday, two days after a steep devaluation, while the official price remained stable at 375, traders said.

A dollar went for 370 Sudanese pounds, they said, compared with 380 to 385 on Monday.

Aligning the official and black market rates is central to the success of the devaluation, a reform aimed at extracting Sudan from an economic crisis and gaining access to debt relief.

Parallel market trade had slowed to a halt since the devaluation, traders said, amid uncertainty over how the government would manage it. Some people visited banks to sell their dollars for the first time.

Reporting by Khalid Abdelaziz, writing by Nafisa Eltahir, editing by Larry King

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