Sudanese dinar

The dinar is the currency of South Sudan since January 10, 2014. It was also the currency of Sudan between 1992 and 2007. Its ISO 4217 code is "SDD".

History

The dinar replaced the first Sudanese pound (SDP) on June 8, 1992 at a rate of 1 dinar = 10 pounds. 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 will stop circulating after a six-month transitional period. The pound and the dinar are to be accepted as legal currency side by side during the six-month period but cheques are to be cashed in pounds from the commercial banks. The Bank of Sudan has started distributing the new currency to commercial banks and has sent consignments of banknotes to the south.^[1] This second Sudanese pound became the only legal tender as of July 1, 2007.

In 2014 it became the currency of South Sudan. The major denomenaters are the 5, 20 and 100 diner notes. They are issued by the Bank of South Sudan in English and Arabic Symbols.

Coins

Coins were minted in denominations of ¼, ½, 1, 2, 5, 10, 20 and 50 dinar (the two smallest denominations appear to have been shelved before being issued). A reduction in size took place, with the 2001-03 coins being generally smaller than the 1994-99 coins. A source^[2] indicates that bi-metallic 50 and 100 dinar coins were planned but that this plan was shelved because of the introduction of the second pound. See below for more detail.

Banknotes

Banknotes were issued in denominations of 5, 10, 25, 50, 100, 200, 500, 1000, 2000 and 5000 dinars. The lowest three denominations were withdrawn on 1 January 2000 due to a concern that well-used notes could spread disease.^[2] Old pound notes also circulated alongside dinar notes.^[2]

Historical exchange rates

Rate against US$1995–2004. (click here for historical rates)

See also

• Economy of Sudan

References

External links