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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]
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 ...
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 ...
The dinar replaced the first Sudanese pound (SDP) on June 8, 1992, at a rate of SD 1 = £S.10. On January 10, 2007, a second Sudanese pound (SDG) was introduced at a rate of 1 pound = 100 dinars. According to the Bank of Sudan , the dinar was to have stopped circulating after a six-month transitional period.
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.
The English word "pound" derives from the Latin expression lībra pondō, in which lībra is a noun meaning 'pound' and pondō is an adverb meaning 'by weight'. [ 1 ] [ 2 ] The currency's symbol is ' £ ' , a stylised form of the blackletter 'L' ( L {\displaystyle {\mathfrak {L}}} ) (from libra ), crossed to indicate abbreviation.
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]
International dollar – hypothetical currency pegged 1:1 to the United States dollar; Jamaican dollar – Jamaica; Kiautschou dollar – Qingdao; Kiribati dollar – Kiribati; Liberian dollar – Liberia; Malaya and British Borneo dollar – Malaya, Singapore, Sarawak, British North Borneo and Brunei; Malayan dollar – Brunei, Malaysia and ...
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