GBP to SDG

GBP - British Pound (£)

The British pound is the currency of the United Kingdom. It is the fourth most traded currency, behind the US dollar, the Japanese yen, and the euro. It is also the third most held reserve currency in the world. The pound is the oldest currency still in existence today.

The official currency of the United Kingdom is the British Pound (GBP), which is used in Great Britain, British Overseas Territories, the South Sandwich Islands, and the British Antarctic Territory, as well as Tristan de Cunha. The Pound is divided into 100 pence. Another name used for the Pound is Sterling. The symbol for the Pound is £.

Pound Sterling is the currency in Channel Islands (Aldernay, Guernsey, Jersey, Sark), Isle of Man, and United Kingdom (England, Great Britain, Northern Ireland, Scotland, Wales, UK, GB, GBR). Pound Sterling is also known as the British Pound, the United Kingdom Pound, UKP, STG, the English Pound, British Pound Sterling, BPS, and Sterlings. Pound Sterling is divided into 100 pence. The exchange rate for Pound Sterling was last updated on Today from The International Monetary Fund. The GBP conversion factor has 6 significant digits.

Economy

• The United Kingdom is rated as the sixth-largest economy in the world.
• The main industries range from aerospace to financial services.
• Export products are beverages, tobacco, fuels, manufactured goods, chemicals, and food.
• Import products are foodstuffs, fuels, machinery, and manufactured goods.
• Unemployment is estimated at 7.6%.

History

• It is difficult to estimate when the Pound originated; but sources indicate that the Pound was already in circulation during the Anglo-Saxon period. During the medieval period the Tealby penny was circulated and was the standard unit used until the 20th century.
• In 1552, silver coinage was introduced made of sterling silver.
• In 1663, gold coinage was introduced. The silver coinage remained and was used for importing goods; gold was used for exporting goods. This made Britain a gold standard country.
• The first paper money was issued in 1694, after the Bank of England was established.
• In 1861, the gold standard was adopted again.
• In 1914, after the outbreak of World War I, the gold standard was abandoned and treasury notes became legal tender.
• In 1940, the Pound was pegged to the US Dollar and later became part of the Bretton Woods system.
• In 1971, the Pound was changed to a free-floating currency.
• In 1976, the country had a Sterling crisis.
• In 1988, the UK Treasury instituted a policy whereby movements of the British Pound "shadowed" those of the German Mark.
• In 1990, the UK became part of the European Exchange rate mechanism, but withdrew in 1992.
• The UK had the option to adopt the Euro in 1999, but declined.

More information about GBP - British Pound (£)

SDG - Sudanese Pound (SDG)

Sudanese Pound

The Sudanese Pound is the currency of the Republic of Sudan and is issued by the Central Bank of Sudan.

The Sudanese Pound is the currency in Sudan (SD, SDN). The Sudanese Pound is divided into 100 qirush. The exchange rate for the Sudanese Pound was last updated on May 24, 2019 from Yahoo Finance. The SDG conversion factor has 3 significant digits.

Economy

• Agricultural production employs 80% of the work force and contributes a third of GDP. However, much of this production is subsistence agriculture, so much of the population remains at or below the poverty line.
• With the succession of South Sudan, where three-fourths of Sudan's total oil production originated, oil earnings no longer provide Sudan with needed hard currency.
• The country has struggled to maintain economic stability. Recent removal of fuel subsidies and rising inflation have led to rowdy protests on the streets of Khartoum as of July, 2012 . with a government crackdown on protestors.

History

• The SDP Pound was replaced in 1992 by the Dinar (SDD) at a rate of 1 Dinar = 10 Pounds. The Dinar circulated in northern Sudan, but prices were still negotiated in pounds in southern Sudan. In other regions, the Kenyan Shilling was also used and accepted.
• The "second Pound" (SDG) was introduced after a peace agreement was reached between the Government of the Republic of The Sudan and The Sudan People's Liberation Movement. The new Sudanese Pound became legal tender on July 1, 2007.
• After the secession of South Sudan, Sudan issued new banknotes on July 24, 2011 ("the third Pound"). These banknotes lack symbols associated with the south, and feature a redrawn map of the country. They replaced 2 billion Sudanese Pounds in circulation. The value of the currency has fallen since its introduction due to worsening economic conditions.

More information about SDG - Sudanese Pound (SDG)