On 21 January, the Central Bank of Sudan (CBS) devaluated the official exchange rate of the Sudanese Pound (SDG) against the US dollar from SDG 6.67 to SDG 18. The measure was taken in an effort to narrow the gap between the official and the parallel exchange rates, which had widened sharply in late 2017, after international sanctions were lifted in October ending a trade embargo and unfreezing financial assets. However, after the devaluation was implemented, the currency continued to depreciate on the parallel market, reaching a record low of more than SDG 30 at the end of January. In early February, the Government announced it plans to further devaluate the local currency to SDG 30 against the US Dollar.