The Sudanese pound (Arabic: '') is the basic unit of the Sudanese currency. The pound consists of 100 piasters. The pound is issued by the Central Bank of Sudan. Its value is linked to gold and convertible into foreign currencies. There are no restrictions on money transfers to and from Sudan. The Sudanese pound is equivalent to $ 0.021. It has been pegged to the United States dollar since around 1984.
The pound fell for the first time since 1997 after the United States imposed economic sanctions on Sudan. The Sudanese pound continued its decline to an unprecedented number, falling to 53 pounds against the dollar. This situation, which drained all economic measures, led to heavy losses in the external repercussions of the Sudan as a whole, in the light of the government cut, interrupted by some of the failed actions announced by the Central Bank of Sudan, a severe shortage of liquidity.
The Sudanese pound fell against the US dollar after the Central Bank of Sudan announced the lifting of the cash reserve to counter inflation. Since the Secession of South Sudan in 2011, Sudan has suffered from a scarcity of foreign exchange for the loss of three quarters of its oil resources and 80% of foreign exchange resources. The Sudanese government quoted the official price of the dollar from 6.09 pounds to 18.07 pounds in the budget of 2018.
The first pound to circulate in Sudan was the Egyptian pound. The late 19th century rebels Muhammad ibn Abdalla (the Mahdi) and Abdallahi ibn Muhammad (the Khalifa) both issued coins which circulated alongside the Egyptian currency. When Anglo-Egyptian rule in Sudan ceased on January 1, 1956 and Sudan became an independent country, a distinct Sudanese currency (the Sudanese pound) was created, replacing the Egyptian pound at par.
The Egyptian pound was subdivided into 100 qirush (Arabic:, singular qirshEnglish: piastre). The qirsh used to be subdivided into 40 para, but decimalisation following the 1886 Egyptian currency reform established a 1/10 qirsh, which came to be known as a millim (, singular: ). Due to this legacy, the post 1956 Sudanese pound was divided into 100 qirush, subdivided into 10 millims.
During 1958-1978 the pound was pegged to the U.S. dollar at a rate of $2.87156 per Sudanese pound. Thereafter, the pound underwent successive devaluations.
The pound was replaced in 1992 by the dinar (SDD) at a rate of 1 dinar = 10 pounds. While the dinar circulated in northern Sudan, in Southern Sudan, prices were still negotiated in pounds, whilst in Rumbek and Yei, the Kenyan shilling was used and accepted more within the transport sectors as well as for hotels/accommodation.
According to the Comprehensive Peace Agreement between the government of the Republic of the Sudan and the Sudan People's Liberation Movement, the Central Bank of Sudan (CBOS) shall ''adopt a program to issue a new currency as soon as is practical during the Interim Period. The design of the new currency shall reflect the cultural diversity of Sudan. Until a new currency has been issued with the approval of the Parties on the recommendations of the CBOS, the circulating currencies in Southern Sudan shall be recognised''. The second pound began introduction on 9 or 10 January 2007, and became the only legal tender as of July 1, 2007. It replaced the dinar at a rate of 1 pound = 100 dinars or 1 pound (SDG) = 1000 pounds (SDP).
The third edition of the Sudanese pound was established on 24 July 2011 following the secession of South Sudan from the Republic of Sudan.
For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.