Currency - Sudanese pound

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Sudanese pound

جس.
The Sudanese pound (Arabic: '') is the basic unit of the Sudanese currency. The pound consists of 100 piasters. The pound is issued by the Central Bank of Sudan. Its value is linked to gold and convertible into foreign currencies. There are no restrictions on money transfers to and from Sudan. The Sudanese pound is equivalent to $ 0.021. It has been pegged to the United States dollar since around 1984.

The pound fell for the first time since 1997 after the United States imposed economic sanctions on Sudan. The Sudanese pound continued its decline to an unprecedented number, falling to 53 pounds against the dollar. This situation, which drained all economic measures, led to heavy losses in the external repercussions of the Sudan as a whole, in the light of the government cut, interrupted by some of the failed actions announced by the Central Bank of Sudan, a severe shortage of liquidity.

The Sudanese pound fell against the US dollar after the Central Bank of Sudan announced the lifting of the cash reserve to counter inflation. Since the Secession of South Sudan in 2011, Sudan has suffered from a scarcity of foreign exchange for the loss of three quarters of its oil resources and 80% of foreign exchange resources. The Sudanese government quoted the official price of the dollar from 6.09 pounds to 18.07 pounds in the budget of 2018.

The first pound to circulate in Sudan was the Egyptian pound. The late 19th century rebels Muhammad ibn Abdalla (the Mahdi) and Abdallahi ibn Muhammad (the Khalifa) both issued coins which circulated alongside the Egyptian currency. When Anglo-Egyptian rule in Sudan ceased on January 1, 1956 and Sudan became an independent country, a distinct Sudanese currency (the Sudanese pound) was created, replacing the Egyptian pound at par.

The Egyptian pound was subdivided into 100 qirush (Arabic:, singular qirshEnglish: piastre). The qirsh used to be subdivided into 40 para, but decimalisation following the 1886 Egyptian currency reform established a 1/10 qirsh, which came to be known as a millim (, singular: ). Due to this legacy, the post 1956 Sudanese pound was divided into 100 qirush, subdivided into 10 millims.

During 1958-1978 the pound was pegged to the U.S. dollar at a rate of $2.87156 per Sudanese pound. Thereafter, the pound underwent successive devaluations.

The pound was replaced in 1992 by the dinar (SDD) at a rate of 1 dinar = 10 pounds. While the dinar circulated in northern Sudan, in Southern Sudan, prices were still negotiated in pounds, whilst in Rumbek and Yei, the Kenyan shilling was used and accepted more within the transport sectors as well as for hotels/accommodation.

According to the Comprehensive Peace Agreement between the government of the Republic of the Sudan and the Sudan People's Liberation Movement, the Central Bank of Sudan (CBOS) shall ''adopt a program to issue a new currency as soon as is practical during the Interim Period. The design of the new currency shall reflect the cultural diversity of Sudan. Until a new currency has been issued with the approval of the Parties on the recommendations of the CBOS, the circulating currencies in Southern Sudan shall be recognised''. The second pound began introduction on 9 or 10 January 2007, and became the only legal tender as of July 1, 2007. It replaced the dinar at a rate of 1 pound = 100 dinars or 1 pound (SDG) = 1000 pounds (SDP).

The third edition of the Sudanese pound was established on 24 July 2011 following the secession of South Sudan from the Republic of Sudan.

For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.

Country

Sudan

Sudan or the Sudan (, ; السودان as-Sūdān), officially the Republic of the Sudan (جمهورية السودان Jumhūriyyat as-Sūdān), is a country in East Africa. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea to the east, Ethiopia to the southeast, South Sudan to the south, the Central African Republic to the southwest, Chad to the west, and Libya to the northwest. It houses 37 million people (2017) and occupies a total area of 1,861,484 square kilometres (718,722 square miles), making it the third-largest country in Africa. Sudan's predominant religion is Islam, and its official languages are Arabic and English. The capital is Khartoum, located at the confluence of the Blue and White Nile. Since 2011, Sudan is the scene of ongoing military conflict in its regions South Kordofan and Blue Nile.

Sudan's history goes back to the Pharaonic period, witnessing the kingdom of Kerma (c. undefined 2500 BC–1500 BC), the subsequent rule of the Egyptian New Kingdom (c. undefined 1500 BC–1070 BC) and the rise of the kingdom of Kush (c. undefined 785 BC–350 AD), which would in turn control Egypt itself for nearly a century. After the fall of Kush the Nubians formed the three Christian kingdoms of Nobatia, Makuria and Alodia, with the latter two lasting until around 1500. Between the 14th and 15th centuries much of Sudan was settled by Muslim (But not all Sudanese are considered Arabs). From the 16th–19th centuries, central and eastern Sudan were dominated by the Funj sultanate, while Darfur ruled the west and the Ottomans the far north. This period saw extensive Islamization.

Language

Sudanese pound (English)  Sterlina sudanese (Italiano)  Soedanees pond (Nederlands)  Livre soudanaise (Français)  Sudanesisches Pfund (Deutsch)  Libra sudanesa (Português)  Суданский фунт (Русский)  Libra sudanesa (Español)  Funt sudański (Polski)  蘇丹鎊 (中文)  Sudanesiskt pund (Svenska)  Liră sudaneză (Română)  スーダン・ポンド (日本語)  Суданський фунт (Українська)  수단 파운드 (한국어)  Sudanin punta (Suomi)  Pound Sudan (Bahasa Indonesia)  Sudano svaras (Lietuvių)  Súdánská libra (Česky)  Sudan sterlini (Türkçe)  Суданска фунта (Српски / Srpski)  Szudáni font (Magyar)  Sudanska funta (Hrvatski)  Sudānas mārciņa (Latviešu)  Λίρα του Σουδάν (Ελληνικά) 
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