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

Symbols and Names

  • Symbols:  junaih
  • Nicknames: none

ISO 4217 Code

SDG

Central Bank

Bank of Sudan

Currency Subunits

  • Qirsh (Piastre) = 1/100 of a Pound

Denominations

  • Bills: 1, 2, 5, 10, 20, 50 pounds
  • Coins: 1, 5, 10, 20, 50 piasters

Countries Using This Currency

  • Sudan
  • Southern Sudan

Currencies Pegged To SDG :

None

SDG Is Pegged To:

None