Sudanese pound
 |
| جنيه سوداني (Arabic) | |
|---|---|
 Current coins | |
| ISO 4217 | |
| Code | SDG (numeric: 938) |
| Subunit | 0.01 |
| Symbol | None official. The abbreviations LS or ج.س are used |
| Denominations | |
| Subunit | |
| 1⁄100 | piastre (qirsh) |
| Symbol | |
| piastre (qirsh) | PT |
| Banknotes | LS 2, LS 5, LS 10, LS 20, LS 50, LS 100, LS 200, LS 500, LS 1,000 |
| Coins | 1 PT, 5 PT, 10 PT, 20 PT, 50 PT, LS 1 [1] |
| Demographics | |
| User(s) |  Sudan |
| Issuance | |
| Central bank | Central Bank of Sudan |
| Website | www |
| Valuation | |
| Inflation | 16.9% |
| Source | https://www.xe.com/currency/sdg-sudanese-pound, 2016 est. |
The Sudanese pound (Arabic: [جنيه سوداني] Error: {{Transliteration}}: transliteration text not Latin script (pos 1) (help) "Jineh Sudani"; abbreviation: LS[2] in Latin, ج.س in Arabic, historically also £Sd;[3] ISO code: SDG) is the currency of the Republic of the Sudan. The pound is divided into 100 piastres (or qirsh (قرش) in Arabic). It is issued by the Central Bank of Sudan.
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 LS 53 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 LS 6.09 to LS 18.07 in the budget of 2018 and LS 375.11 in March 2021.
History
[edit]First pound (SDP)
[edit]The first pound to circulate in Sudan was the Egyptian pound. The late 19th-century rulers 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 piastres (Arabic: [قروش] Error: {{Transliteration}}: transliteration text not Latin script (pos 1) (help), singular qirsh, [قرش] Error: {{Transliteration}}: transliteration text not Latin script (pos 1) (help), English: piastre, abbreviation: PT). The piastre used to be subdivided into 40 para, but decimalisation following the 1886 Egyptian currency reform established a 1⁄10 PT, which came to be known as a millim (abbreviated to mm/mms in Sudan) ([ملّيمات] Error: {{Transliteration}}: transliteration text not Latin script (pos 1) (help), singular: [ملّيم] Error: {{Transliteration}}: transliteration text not Latin script (pos 1) (help)). Due to this legacy, the post 1956 Sudanese pound was divided into 100 PT, each subdivided into 10mms.
During 1958-1978 the pound was pegged to the U.S. dollar at a rate of US$2.87156 per LS 1. Thereafter, the pound underwent successive devaluations.
The pound was replaced in 1992 by the dinar (SDD) at a rate of SD 1 = LS 10. While the dinar circulated in northern Sudan, in Southern Sudan, prices were still negotiated in pounds; this ended with the establishment of the South Sudanese pound in 2011.[4] In Rumbek and Yei, the Kenyan shilling was more widely accepted as payment.
Second pound (SDG)
[edit]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.[5][6][7] It replaced the dinar at a rate of LS 1 = SD 100 (or 1 SDG = 1,000 SDP).
Current Sudanese pound
[edit]![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion with: value of the new Sudanese pound. You can help by adding to it. (March 2015) |
The third edition of the Sudanese pound was established on 24 July 2011 following the secession of South Sudan from the Republic of Sudan.[8][9] The Sudanese pound was legal tender in South Sudan until 31 August 2011.
For a wider history surrounding currency in the region, see British currency in the Middle East.
The Sudanese pound was devalued on 23 February 2021, with the official (indicative) exchange rate set to LS 375.08 per US dollar (from the fixed rate of LS 55), closing the gap between the commercial and black market exchange rates.[10][11][12]
In July 2024, the Sudanese pound depreciated to LS 2100 per US dollar in the parallel market.[13]
Coins
[edit]Local coinage in Sudan: issues of the Mahdi and Khalifa and of Darfur
[edit]In 1885, the Mahdi issued silver coins for 10 PT and 20 PT and gold 100 PT. These were followed by issues of the Khalifa in denominations of 10 para, 1 PT, 2 PT, 2+1⁄2 PT, 4 PT, 5 PT, 10 PT and 20 PT. These coins were initially minted in silver in 1885. Over the following eleven years, severe debasement occurred, leading to billon, then silver-washed copper and finally copper coins being issued. The coinage ceased in 1897.
During 1908–1914, a local coinage was issued in Darfur in western Sudan. These were issued under the authority of Ali Dinar and resembled contemporary Egyptian coins.
First pound
[edit]In 1956, coins were introduced in denominations of 1mm, 2mms, 5mms and 10mms, 2 PT, 5 PT and 10 PT. The millim denominations were struck in bronze, whilst the piastre denominations were in cupro-nickel. The 2mms, 5mms and 10mms were scallop shaped, although a round 5mms was introduced in 1971. The 1mm and 2mms were last struck in 1969, the last 5 millim in 1978. In 1983, brass 1 PT, 2 PT and 5 PT, a reduced size 10 PT and a cupro-nickel 20 PT were introduced. In 1987, aluminium-bronze 1 PT, 5 PT, 10 PT, 20 PT, 25 PT and 50 PT and LS 1 were introduced, with the 25 PT and 50 PT being square and octagonal in shape, respectively. In 1989, stainless-steel 25 PT and 50 PT and LS 1 were issued. This is the general pattern, in addition to these coins there are collector-oriented issues and various oddities. See popular coin catalogues for details.
Sudanese dinar
[edit]See Sudanese dinar.
Second pound
[edit]Coins in denominations of 1 PT, 5 PT, 10 PT, 20 PT and 50 PT were introduced alongside the circulating dinar coins. The Central Bank of Sudan states that the 5 PT coins are yellow coloured (perhaps aluminium-bronze) and the 10 PT is silver coloured (made of stainless steel). The 20 PT and 50 PT coins are bi-metallic, with the 20 PT yellow ringed with a silver coloured centre and the 50 PT the opposite.
Banknotes
[edit]First pound
[edit]| One-pound note, series 1987 | |
|---|---|
 
| |
| Obverse | Reverse |
In April 1957, the Sudan Currency Board introduced notes for 25 PT, 50 PT, LS 1, LS 5 and LS 10.[14] Note production was taken over by the Bank of Sudan in 1961. LS 20 notes were introduced in 1981, followed by denominations of LS 50 in 1984 and LS 100 in 1988.[15]
Sudanese dinar
[edit]When introduced on 8 June 1992, the Sudanese dinar replaced the first Sudanese pound at a rate of 1:10.[14]
Questionable new notes
[edit]In 2005, the National Public Radio of the United States reported that forces in southern Sudan were printing pound notes bearing the name "Bank of New Sudan", but there is no such bank. In addition, numbers of the banknotes had duplicate serial numbers. Their legitimacy is questionable.[16][17][18][19]
Second pound
[edit]When introduced on 10 January 2007, the second Sudanese pound replaced the Sudanese dinar at a rate of 1:100. This new currency was mandated by the 2005 Comprehensive Peace Agreement signed between the Sudanese government and the Sudan People's Liberation Movement to end the country's 21- year civil war. Deputy Governor Badr-Eddin Mahmoud said the cost to print the new currency was US$156 million.[14] Banknotes of LS 1, LS 2, LS 5, LS 10, LS 20 and LS 50 were issued.[6] The LS 1 note was replaced by a coin at the end of November 2011.
| Banknotes of the Sudanese pound (2006 issue) | |||||
|---|---|---|---|---|---|
| Image | Value | Obverse | Reverse | Watermark | Date of issue |
| [1] | LS 1 | Central Bank of Sudan building, Khartoum; Pigeon | Pigeons | Pigeon and electrotype ℒ𝓈 1 | July 9, 2006 |
| [2] | LS 2 | Pottery | Musical instruments | Pigeon and electrotype ℒ𝓈 2 | July 9, 2006 |
| [3] | LS 5 | Ornate wall; satellite | Hydroelectric dam | Pigeon and electrotype ℒ𝓈 5 | July 9, 2006 |
| [4] | LS 10 | Tree in Tabaldia, clasped hands, watusi cattle, mountains, and camel | People's Palace, Khartoum | Secretary bird and electrotype ℒ𝓈 10 | July 9, 2006 |
| [5] | LS 20 | Machinery; oil derricks | Factory; radio antenna; fruit (bananas, papayas, flowers, pineapples, citrus, grapes, corn) | Secretary bird and electrotype ℒ𝓈 20 | July 9, 2006 |
| [6] | LS 50 | Wildlife (rhinoceros, elephants, ape in tree, water buffalo, zebras, and giraffe) | Sheep, cow, goat, camels | Secretary bird and electrotype ℒ𝓈 50 | July 9, 2006 |
Current pound
[edit]Banknotes of the third pound are similar in style to those of the second pound but with changes in colour scheme, the removal of certain symbols associated with the south and a redrawn map of the country after the secession of the south.[20]
| Banknotes of the Sudanese pound (2011 Modified colors issue) | ||||
|---|---|---|---|---|
| Image | Value | Obverse | Reverse | Date of issue |
| [7] | LS 2 | Pottery | Musical instruments | June 2011 |
| [8] | LS 5 | Ornate wall; satellite | Hydroelectric dam | June 2011 |
| [9] | LS 10 | Tree in Tabaldia, clasped hands, mountains, and camel | People's Palace, Khartoum | June 2011 |
| [10] | LS 20 | Machinery; oil derricks | Factory; radio antenna; fruit (bananas, papayas, flowers, pineapples, citrus, grapes, corn) | June 2011 |
| [11] | LS 50 | Wildlife (rhinoceros, elephants, ape in tree, water buffalo, zebras, and giraffe) | Sheep, cow, goat, camels | June 2011 |
| [12] | LS 50 | Headquarters of the Central Bank of Sudan, standard gold bars of 400 oz. (12.4 kg), map of Sudan | Fishing boats, Camels | April 2018 |
| [13] | LS 100 | Pyramids of Meroë | Meroë hydroelectric dam | January 2019 |
| [14] | LS 200 | Wildlife | Red Sea underwater fauna | February 2019 |
| [15] | LS 200 | Modern building, huts | People with blackboard | August 2019 |
| [16] | LS 500 | Satellite dishes, National Telecommunications Corporation (NTC) Tower, Khartoum | Refinery | March 2019 |
| [17] | LS 1,000 | Sorghum plant, grain silos | Sorghum plant, waterfall, two farmers ploughing a field with cattle | June 2019 |
New banknotes
[edit]On 1 January 2019, the Central Bank of Sudan announced Sudanese pound banknotes of LS 100, LS 200 and LS 500 will be released this month as the country grapples with a severe economic crisis and cash shortage.[21]
A new LS 100 banknote was unveiled on 28 January 2019 by the Central Bank of Sudan.[22]
A new LS 200 Sudanese pounds banknote was unveiled on 5 February 2019 by the Central Bank of Sudan.[23]
A new LS 500 banknote dated March 2019 was issued in 2019 and a LS 1,000 banknote dated June 2019 was issued on 7 June 2022
| Current SDG exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
| From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
| From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
| From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
See also
[edit]- British currency in the Middle East
- Economy of South Sudan
- Economy of Sudan
- South Sudanese pound
- Egyptian pound
References
[edit]- ^ "1 Pound, Sudan".
- ^ "Central Bank of Sudan - 50 Sudanese pounds". cbos.gov.sd. Retrieved 2 September 2022.
- ^ "Sudan". CIA World Factbook 1990 - page 294. 1 April 1990. Retrieved 1 August 2022.
- ^ "South Sudan Pound released July 18". 22 July 2011. Archived from the original on 25 January 2012.
- ^ "New Sudan currency to circulate from January 10". Reuters – AlertNet. 8 January 2007. Retrieved 10 January 2007.
- ^ a b Bank of Sudan. "The new Sudanese currency". Archived from the original on 4 January 2007. Retrieved 10 January 2007.
The new currency shall start circulation on January 9th.
- ^ Sudan Vision Daily (16 February 2006). "Peace: The Presidency of the Republic: Implementation of the CPA in the Year 2005". Archived from the original on 18 November 2006. Retrieved 19 July 2006.
- ^ http://www.newsday.com/business/sudan-rolls-out-new-currency-after-separation-1.3047946 [dead link]
- ^ "Sudan launches a new currency, following South Sudan". BBC News. 24 July 2011.
- ^ Abdelaziz, Khalid (22 February 2021). "Sudan devalues currency to meet key condition for debt relief". Reuters. Retrieved 23 February 2021.
- ^ "Sudanese pound gains on black market on second day after devaluation". Reuters. 23 February 2021. Retrieved 23 February 2021.
- ^ "Indicative Exchange Rate | CBOS". cbos.gov.sd. Retrieved 23 February 2021.
- ^ Rana (12 July 2024). "USD surpasses 2k Sudanese Pound mark in parallel market". Dabanga Radio TV Online. Retrieved 22 July 2024.
- ^ a b c Linzmayer, Owen (2013). "Sudan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
- ^ "Reference Site for Islamic Banknotes | Just another WordPress site". 19 July 2019.
- ^ National Public Radio, USA (31 May 2005). "Photo of some of the 200 pound notes". NPR. Retrieved 19 July 2006.
- ^ National Public Radio, USA (31 May 2005). "Peace Also Brings New Currency to Southern Sudan". NPR.org. Retrieved 19 July 2006.
- ^ New Sudan high denomination notes sought. Banknote News. Retrieved 2012-05-22.
- ^ The Elusive Banknotes of New Sudan, Peter Symes, pjsymes.com.au. January 2011. Retrieved on 2014-03-09.
- ^ "North Sudan launches new currency into economically troubled waters".
- ^ "Sudan to release new banknotes in mid-January". Anadolu Agency. 2 January 2019.
- ^ "New SDG 100 Security Features". Central Bank of Sudan. Retrieved 28 January 2019.
- ^ "Sudan new 200-pound note (B414a) confirmed". Banknote news. Retrieved 5 February 2019.
External links
[edit]- Sudan launches new pound
- The banknotes of Sudan (Sudanese pound) (in English and German)
- The banknotes of Sudan (Sudanese dinar) (in English and German)
| Preceded by: Egyptian pound Reason: independence (in 1956) Ratio: at par |
Currency of Sudan 1957 – June 8, 1992 |
Succeeded by: Sudanese dinar Location: Northern Sudan Reason: inflation Ratio: 1 dinar = 10 (1st) pounds | |
| Currency of Southern Sudan 1992 – January 2007 Note: see Second Sudanese Civil War |
Succeeded by: 2nd Sudanese pound Location: Southern Sudan Reason: currency unification (peace treaty) Ratio: 1 (2nd) pound = 1,000 (1st) pounds | ||
| Preceded by: Sudanese dinar Location: Northern Sudan Reason: inflation and currency unification (peace treaty) Ratio: 1 (2nd) pound = 100 dinars |
Currency of Sudan January 2007 – 2011 |
Succeeded by: Third Sudanese pound Location: (North) Sudan Reason: independence of South Sudan Ratio: at par Note: same ISO code with second pound |
| Preceded by: 1st Sudanese pound Location: Southern Sudan Reason: currency unification (peace treaty) Ratio: 1 (2nd) pound = 1,000 (1st) pounds |
Succeeded by: South Sudanese pound Location: South Sudan Reason: independence of South Sudan Ratio: at par |
