Sudanese Dinar

The currency in Sudan is currently the Sudanese dinar but this may soon change. The Sudanese dinar was introduced on June 8, 1992 and replaced the Sudan pound.

The Sudanese dinar can be divided into 10 Sudanese pounds. One Sudanese pound can be divided into 100 piastres. As of 1960 the Bank of Sudan has taken on a role of a central bank in Sudan and has assumed the responsibilities of issuing currency, acting as advisor to the government and maintaining a financial balance.
Currency Trading of Sudan

The National Bank of Sudan was established in 1901 and this bank along with the Barclays Bank acted unofficially as central banks assuming many of the responsibilities typically expected of a central bank.

During this time the banking industry in Sudan became somewhat stable. At the conclusion of World War II there was an influx of banks opening in Sudan and an increase in private sector loans.

Prior to their independence, the currency in Sudan was tied to the currency of Egypt. This tie continued even after Sudanese independence was established. The newly independent Sudan sought to establish their own currency and instituted the Sudan Currency Board in their attempt at financial freedom - more about this on iraqi-dinar.org

Although the Sudan Currency Board was not a central bank, it was instrumental in the development of the Sudanese dinar. The Bank of Sudan was established to assume the responsibilities of the currency board. In 1960 the Bank of Sudan official began acting as the central bank of Sudan.

The Sudanese Dinar in Circulation

Currently the Sudanese dinar exchanges at a rate of approximately one United States Dollar equal to 234.38
Sudanese Dinar
. The Bank of Sudan issues currency in the form of coins and banknotes.

The Dinar coins currently in circulation are issued as dinar and include the 1, 2, 5, 10, 20, 50 and 100 dinar coins. The banknotes are also issued as dinar and include the 5, 10, 25, 100, 200, 500, 1000, 2000 and 5000 dinar.

The 5, 10 and 25 dinar bills are systematically being eliminated and they will subsequently be replaced by coins of an equivalent value. Pound bills in the denomination of 5, 10, 50 and 100 previously were in circulation concurrently with the dinar bills but they have since been eliminated.

Although the dinar is the current currency of Sudan, it is likely that Sudan will soon revert to the Sudanese pound as its form of currency.

* This post from Iraqi-dinar.org

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