Sudanese dinar
Encyclopedia
The dinar
was the currency
of Sudan
between June 8, 1992 and January 10, 2007. Its ISO 4217
code is "SDD". It is now replaced by the 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 bank
s. The Bank of Sudan has started distributing the new currency to commercial banks and has sent consignments of banknotes to the south. This second Sudanese pound
became the only legal tender as of July 1, 2007.
s were issued in denominations of ¼, ½, 1, 2, 5, 10, 20 and 50 dinar. A source 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.
s 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 The lowest three denominations were withdrawn on 1 January 2000 in order to "stop the spread of disease". Old pound notes also circulated alongside dinar notes.
(click here for historical rates)
Dinar
The dinar is the official currency of several countries.The history of the dinar dates to the gold dinar, an early Islamic coin corresponding to the Byzantine denarius auri...
was the currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Sudan
Sudan
Sudan , officially the Republic of the Sudan , is a country in North Africa, sometimes considered part of the Middle East politically. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the...
between June 8, 1992 and January 10, 2007. Its ISO 4217
ISO 4217
ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...
code is "SDD". It is now replaced by the pound
Sudanese pound
The Sudanese pound is the currency of Sudan and also used in South Sudan until finalization of the introduction of the South Sudanese pound. Both Arabic and English names for the denominations appear on the country's banknotes and coins. On 24 July 2011, Sudan launched a new currency...
.
History
The dinar replaced the first Sudanese poundSudanese pound
The Sudanese pound is the currency of Sudan and also used in South Sudan until finalization of the introduction of the South Sudanese pound. Both Arabic and English names for the denominations appear on the country's banknotes and coins. On 24 July 2011, Sudan launched a new currency...
(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
Bank of Sudan
Bank of Sudan is the central bank of the Sudan. The bank was formed in 1960, four years after Sudan's independence. It is located in Khartoum and its governor is currently Mohamed Kheir El-Zubeir.-History:...
, 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 bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
s. The Bank of Sudan has started distributing the new currency to commercial banks and has sent consignments of banknotes to the south. This second Sudanese pound
Sudanese pound
The Sudanese pound is the currency of Sudan and also used in South Sudan until finalization of the introduction of the South Sudanese pound. Both Arabic and English names for the denominations appear on the country's banknotes and coins. On 24 July 2011, Sudan launched a new currency...
became the only legal tender as of July 1, 2007.
Coins
CoinCoin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s were issued in denominations of ¼, ½, 1, 2, 5, 10, 20 and 50 dinar. A source 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
BanknoteBanknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
s 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 in order to "stop the spread of disease". Old pound notes also circulated alongside dinar notes.
Historical exchange rates
Rate against US$ 1995–2004.(click here for historical rates)