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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. [9] [10] [11] In July 2024, the Sudanese pound depreciated to LS 2100 per US dollar in the parallel market. [12]
The problem remains, despite rapid rises in average per capita income. In January 2007, the government introduced a new Sudanese pound, at an initial exchange rate of US$1 = £S.2. Sudan is still a least developed country according to United Nations.
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
It was introduced on 18 July 2011, and replaced the Sudanese pound at par. [5] On 1 September 2011, the Sudanese pound ceased to be legal tender in South Sudan. On October 8, 2020, due to rapid depreciation of the South Sudanese pound's exchange rate with the United States dollar, South Sudan announced that it would soon change its currency. [6 ...
South Sudanese pound: SS£ SSP Piaster: 100 Spain: Euro € EUR Cent: 100 Sri Lanka: Sri Lankan rupee: Re or Rs (pl.) LKR Cent: 100 Sudan: Sudanese pound: LS SDG Piastre: 100 Suriname: Surinamese dollar $ SRD Cent: 100 Sweden: Swedish krona: kr SEK Öre: 100 Switzerland: Swiss franc: Fr CHF Rappen [J] 100 Syria: Syrian pound: LS SYP Piastre ...
In 1992, the Sudanese Pound replaced the dinar as Sudan's currency. Until a referendum, South Sudan will become to first to use the new currency and will be nicknamed 'the Sudani'. [31] Inaugural Finance Minister David Deng Athorbie announced the creation of the South Sudanese pound to go into effect a week after independence. [32]
By 1991 the value of the Sudanese pound against the U.S. dollar had sunk to less than 10 percent of its 1978 value, and the country's external debt had risen to US$13 billion, the interest on which could be paid only by raising new loans.
Sudanese pound (until 1992 and since January 2007) Tongan pound (1921–1966 Government of Tonga Treasury notes. 1967 replaced by the pa'anga ($)) Transvaal pound (see above, South African Republic pond) West Indian pound (until 1949, replaced by East Caribbean dollar) Western Samoan pound (1920-1967, replaced by Samoan tala)