Sudanese Dinar (SDD)

What Was the Sudanese Dinar (SDD)?

The Sudanese dinar is a now-old currency that replaced the first Sudanese Pound (SDP). It was replaced in 2007 by the new Sudanese Pound (SDG). It was in circulation from 1992 through January 2007.

Figuring out the Sudanese Dinar

The Sudanese dinar is a currency that is presently not in circulation. The currency was being used in the nation of Sudan from June 1992 to January 2007. 100 dirham made up one Sudanese dinar which was given the symbol of LSd or \u00a3Sd. When abbreviated on the forex market, the Sudanese dinar was addressed by the abbreviation SDD

The Sudanese dinar, issued by the Bank of Sudan, first showed up in 1992 when it replaced the Sudanese pound, abbreviated as SDP, at a rate of 1:10. The Sudanese pound had been in circulation from 1956-1992 and was partitioned into 100 piastre or qirush. However the dinar replaced the pound, the pound stayed the currency used to quote prices in Southern Sudan.

The Sudanese dinar stayed in circulation until it was replaced by a second, new emphasis of the Sudanese pound, abbreviated as SDG in 2007 at a rate of 1:100. While in circulation, the Bank of Sudan minted Sudanese dinar coins in denominations of 1, 2, 5, 10, 20, and 50 dinar. The government just changed the moneys once, with the issue in 2001 being more modest than the issue that occurred during the 1990s. The Sudanese dinar showed up in banknotes with denominations of 5, 10, 25, 50, 100, 200, 500, 1,000, 2,000 and 5,000 dinar.

The Central Bank of Sudan controls printing and circulation of the legal currency, as well as monetary policy and interest rates. The bank likewise encourages Islamic banking in the region.

History of Sudanese Currency, from Pound to Dinar to Pound Again

In 1956, Sudan replaced the Egyptian Pound with its own pound at par, when Anglo-Egyptian rule stopped on Jan. 1, 1956. After acquiring their independence, the new Sudanese government issued their own currency, the main emphasis of the Sudanese pound. From 1958-1978 the currency was pegged to the U.S. dollar. The Sudanese pound stayed being used until it was replaced by the dinar in 1992. During the hour of dinar's run, it was as yet normal in Southern Sudan to quote prices in the pound, and a few regions even saw the utilization of the Kenyan shilling.

The second emphasis of the Sudanese pound, issued by the Central Bank of Sudan, started in 2007 at a rate of one pound rising to 100 dinars. The new currency highlights both English and Arabic names for its denominations. The Central Bank of Sudan, situated in the country's capital, Khartoum, was framed four years after the country's Independence in 1960. The Central Bank of Sudan operates north of twelve branches all through the country.

Features

• The dinar itself replaced the original Sudanese pound.
• The Sudanese dinar (SDD) was the official currency of Sudan somewhere in the range of 1992 and 2007, when it was prevailed by the new Sudanese Pound (SDG).
• The SDG was issued at a rate of 1:100 SDD.