What is ‘SDP (sudanese pound)’
SDP (Sudanese pound) was the national currency in the Republic of Sudan from 1956 to 1992. In both Arabic and English names for the denominations of the national currency appeared on the banknotes and coins. Sudanese pound is divided into 100 piastres or qirush in Arabic. In addition, the Arabic name for the pound was junaih. Sudan coins in denominations of 1, 5, 10, 20 and 50 piastres and 1 pound. The pound banknotes were 1, 2, 5, 10, 20, and 50-pound banknotes.
The penetration of ‘SDP (Sudanese pound)’
In 1956, SDP (Sudanese pound) replaced the Egyptian pound at par as the national currency and remained in operation until its replacement, the Dinar (SDD) in 1992. The Dinar circulated in the period between 1992 and 2007. Conversion Dinar was in one Dinar to 10 pounds of SDP.
As a currency conversion, it was some time before the Dinar completely replace the use of the pound. While the Dinar has seen widespread use in Northern Sudan, in southern regions of the country, many merchants and businessmen are still negotiated in pounds. Other Sudanese regions use the Kenyan Shilling.
The Central Bank of Sudan (CBOS) handles the minting and circulation of lawful currency and control over monetary policy and interest rates. Another duty of the Bank is to promote Islamic banking in the region.
The economic and historical impact on the Sudanese pound (SDP)
The history of the Sudanese pound mirrors the long history of the country changes government and political control. For example, replacement of PSD with SDG pound, the pound came after the peace agreement between the Government of the Republic and the people’s Liberation movement Sudan. The new Sudanese pound became legal tender in 2007, and was in turn replaced with the third version of pound (sdg) in 2011. This change in 2011, as South Sudan seceded from the country. After separation of the Republic issued new banknotes.
Of the Republic of Sudan is located in northeastern Africa and has a history that spans many centuries. At the end of 1880-ies of the area are faced with a serious the Egyptian government, which led to riots and the creation of the Khilafah state. The British defeated the Caliphate state, and will govern the region along with Egypt. In the 1950-ies, Sudanese nationalism grew and the country declared its independence in 1956. Following British series of the fluctuating and violent governments in power. In 1983, the fundamentalist Islamic law is further aggravated relations with the southern part of the region, leading to civil war, which ended in an independent South Sudan in 2011.
After the accession of South Sudan taking with them 80% of the countries oil reserves, the Republic is experiencing stagflation slow economic growth, high unemployment, and inflation. However, to get its oil to market, South Sudan must transport it by pipeline through the territory of the Republic. Completed in 2008, the Meroe dam on the Nile river-the biggest hydropower project in Africa and provides a large part of the country’s electricity. China is the main trading partner of the Republic.
Agriculture employs the majority of the population of the Sudan and drives gross domestic product (GDP). People are experiencing huge problems with hunger and is considered one of the lowest in the world in human development. Isolation of the Republic of Sudan from the world because of the preservation of human rights, and religious oppression. Also, there is evidence that the country is a haven for terrorist activities. 2017 according to data from the world Bank, the Republic is experiencing a 4.3% annual GDP growth with a staggering 32.9% of annual deflator inflation.