Sudanese Pound - SDG

Overview

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

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.

General Information