SDP (Sudanese Pound)

What is the SDP (Sudanese Pound)

SDP (Sudanese Pound) was the national currency for Sudan somewhere in the range of 1956 and 1992. The Sudanese pound partitioned into 100 piastres or qirush in Arabic. The Arabic name for the pound is junaih. Sudanese coins had denominations of 1, 5, 10, 20 and 50 piastres, as well as a 1-pound coin. Pound banknotes had 1, 2, 5, 10, 20 and 50-pound denominations.

Breaking Down SDP (Sudanese Pound)

In 1956, the SDP (Sudanese pound) supplanted the Egyptian pound at par as the national currency and stayed being used until the presentation of the dinar (SDD) in 1992. The dinar circulated somewhere in the range of 1992 and 2007. Conversion was set at one dinar to 10 SDP.

In the same way as other currency conversions, it was some time before the dinar altogether supplanted the SDP. While the dinar was utilized widely in northern Sudan, numerous vendors and organizations executed in pounds in southern regions of the country. Different areas of Sudan utilized the Kenyan shilling.

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

History of the Sudanese Pound (SDP)

The history of the Sudanese Pound mirrors changes in the country's politics and governmental control. For instance, the presentation of the subsequent Sudanese Pound (SDG) followed a peace agreement between the government and the Sudan People's Liberation Movement. The new Sudanese pound became legal tender in 2007, and was supplanted with the third version of the pound in 2011. This 2011 change came as South Sudan withdrew from the country. After the withdrawal, the government issued new banknotes.

Sudan lies in Northeast Africa. In the late 1880s, the area experienced brutal Egyptian rule which prompted revolts and the creation of a caliphate state. The British crushed the caliphate state and represented the region alongside Egypt. During the 1950s, Sudanese nationalism rose, and the country declared its independence in 1956. Keeping British guideline, a series of severe governments held power. In 1983, the government declared all of Sudan an Islamic state, which threatened the south and prompted a second civil war and South Sudan getting independence in 2011.

Succession left South Sudan with 75% of the area's oil reserves. Therefore, Sudan has encountered stagflation: high unemployment and slow financial growth combined with inflation. As per 2017 World Bank data, Sudan registered 4.3% annual GDP growth with a stunning 32.9% yearly inflation deflator. Agriculture utilizes 80% of the Sudanese population. An estimated 9.6 million individuals are food shaky and the nation positions as one of the least in the world for [human development](/human-development-file hdi).

Sudan is home to the Merowe Dam on the River Nile, the biggest hydropower project in Africa and provider of a large portion of the country's power. China is Sudan's primary exchanging partner.