Currency Rates for Sudanese Pound
Currency Exchange Rates for Sudanese Pound. Currency Information on SDG for Sudan. - ج.س.The foreign exchange currency code for SDG represents the Sudanese Pound exchange rate.
GBP to SDG
The first pound-based currency to circulate in Sudan was the Egyptian pound; the Sudanese pound was created when Sudan ceased to be under Angle-Egyptian rule in 1956.
The second pound replaced the dinar at a ratio of 1 pound = 100 dinar, in 2007. When South Sudan was seceded from the Republic of Sudan, in 2011, a third edition of Sudanese pound was introduced.
Send Money Transfer to Sudan. The Sudanese pound remains the legal currency of both Sudan and South Sudan, until the introduction of the South Sudan pound. 1, 5, 10, 20 and 50 piaster, and 1 pound coins are in circulations, alongside 1, 2, 5, 10, 20and 50 pound banknotes.
The Sudanese pound has its denominations in two languages, Arabic and English. This is because it is a country with a large Muslim population. Additionally, the pound is used in both The Republic of Sudan and South Sudan. Internationally it is denoted by the Initials SDG.
Sudan has had three generation of pounds. Initially, the Egyptian pound was the official currency. In 1956 after Sudan moved out of the Angle-Egyptian rule the Egyptian pound was left.
The Sudanese pound, SDP, was the official currency from 1956 to 1992. The first Sudanese war that started in 1985 lead to hyper inflation and massive devaluation of the dinar, another currency had to be found.
In 1992 the Sudanese dinar took over. This was after a military coup after which economic reforms started. The dinar was a failure as it was not adopted country wide. Different parts of the country used different currencies including batter trade.
The second pound was rolled out in 2007. Civil war and unrest lead to its abandonment.
The third pond, SDG, has been in use since 2011. It is still facing the challenges of its predecessors, political unrest and economic hardships.
The Sudanese pound consists of six bank notes and five coins. The bills are; 1,2,5,10,20 and 50 pounds.
The coins also called piasters come in denominations of; 1, 5, 10, 20, and 50-pound coins.
Challenges Facing the Currency
Currently, the Sudanese pound is facing challenging times. With South Sudan gaining independence, earnings from oil exports have dropped drastically as the oil reserves are now under South Sudan. Additionally, drought has reduced production in the agricultural sector which the country is heavily dependent on. Inflation is now at an all time high and the government has to deal with public protests.
The Sudanese pound since its inception has faced resistance. Initially, it was not widely used, the Kenyan shilling and the dinar was. After its acceptance, the economic environment has caused high inflation. This has lead to devaluation of the pound.
Bank Exchange Rates for Sudanese Pound. The foreign exchange rates for Sudan also known as the ISO code SDG. Send money transfer online with us with the cheapest options.