Sudanese dinar

The Sudanese dinar was the currency of Sudan between 1992 and 2007. Its ISO 4217 code was "SDD" and had no official subdivision. It replaced the first Sudanese pound and, in turn, was replaced by the second Sudanese pound.

Sudanese dinar
دينار سوداني (in Arabic)
ISO 4217
CodeSDD
Denominations
SymbolLSd or £Sd
Banknotes
 Freq. used100, 200, 500, 1,000, 2,000, 5,000, 10,000 dinars
 Rarely used5, 10, 25, 50 dinars
Coins1, 2, 5, 10, 20 and 50 dinars
Demographics
User(s)None
Issuance
Central bankBank of Sudan
 Websitewww.bankofsudan.org
Valuation
Inflation9%
 SourceThe World Factbook, 2005 est.
This infobox shows the latest status before this currency was rendered obsolete.

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 was to have stopped circulating after a six-month transitional period. The pound and the dinar were to be accepted as legal currency side by side during the six-month period but cheques would be cashed in pounds from the commercial banks. The Bank of Sudan began distributing the new currency to commercial banks and sent consignments of banknotes to the south in 2007.[1] This second Sudanese pound became the only legal tender as of July 1, 2007.

Coins

Coins were minted in denominations of ¼, ½, 1, 2, 5, 10, 20 and 50 dinars (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 The lowest three denominations were withdrawn on 1 January 2000 due to a concern that well-used notes could spread disease.[2] Old pound notes also circulated alongside dinar notes.[2]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. (See historical rates)

See also

References

  1. ^ "Archived copy". Archived from the original on 2007-09-27. Retrieved 2007-01-10.CS1 maint: Archived copy as title (link)
  2. ^ a b c Numismatic Dimensions (May 2005). "Africa - Coins of Sudan". Retrieved 2006-07-19.

External links

Preceded by:
1st Sudanese pound
Reason: inflation
Ratio: 1 dinar = 10 (1st) pounds
Currency of Northern Sudan
1992 – January, 2007
Succeeded by:
2nd Sudanese pound
Reason: inflation and currency unification (peace treaty)
Ratio: 1 (2nd) dinar = 100 piastres
Az-Zubair Prize for Innovation and Scientific Excellence

Az-Zubair Prize for Innovation and Scientific Excellence is an annual Sudanese scientific prize awarded by the President of Sudan for scientific innovation and creativity in applied and technological fields.

Central Bank of Sudan

The Central Bank of Sudan is the central bank of Sudan. The bank was formed in 1960, four years after Sudan's independence. It is located in the capital Khartoum.

Croatian dinar

The dinar was the currency of Croatia between December 23, 1991, and May 30, 1994. The ISO 4217 code was HRD.

Date cultivation in Dar al-Manasir

Date palms are cultivated in Sudan from the Egyptian border in the North all the way along the Nile south of Khartoum until Sennar. In addition to the banks of the Nile, isolated occurrences of cultivated date trees occur in the Red Sea Hills in the vicinity of Port Sudan, in Kassala, along the Atbara River, in the deserts around Dongola and far Southwest in Darfur, for example in Wadi Kutum, Wadi Mellit and Barra. In all these locations, the palm trees depend on accessible ground water or on irrigation. The water for irrigation is either taken from wells or from the river Nile, where it is nowadays provided by diesel pumps.

Sudan is among the countries that produce good quality dates. Bilad al-Mahas, Sukut, Dongola, Dar al-Shaiqiyah, Dar al-Manasir, Dar al-Rubatab and the areas around Bauqah and Berber along the Nile boast extensive date groves. In each date growing region a particular composition of palm tree varieties, including endemic species, are grown. During the Anglo-Egyptian Condominium (1899—1955), Dar al-Manasir had been described as the southernmost limit of date cultivation in the Sudan

Dinar

The dinar is the principal currency unit in several countries and was used historically in several more.

The modern dinar's historical antecedents are the gold dinar, the main coin of the medieval Islamic empires, first issued in AH 77 (696–697 AD) by Caliph Abd al-Malik ibn Marwan. The word is derived from the silver denarius coin of ancient Rome, first minted about 211 BC.

The English word "dinar" is the transliteration of the Arabic دينار (dīnār), which was borrowed via the Syriac dīnarā from the Greek δηνάριον (dēnárion), itself from the Latin dēnārius.A gold coin known as the dīnāra was also introduced to India by the Kushan Empire in the 1st century AD, and adopted by the Gupta Empire and its successors up to the 6th century. The modern gold dinar is a projected bullion gold coin, so far not issued as official currency by any state.

ISO 4217

ISO 4217 is a standard first published by International Organization for Standardization in 1978, which delineates currency designators, country codes (alpha and numeric), and references to minor units in three tables:

Table A.1 – Current currency & funds code list

Table A.2 – Current funds codes

Table A.3 – List of codes for historic denominations of currencies & fundsThe tables, history and ongoing discussion are maintained by SIX Interbank Clearing on behalf of ISO and the Swiss Association for Standardization.The ISO 4217 code list is used in banking and business globally. In many countries the ISO codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of translated currency names or ambiguous currency symbols. ISO 4217 codes are used on airline tickets and international train tickets to remove any ambiguity about the price.

Krajina dinar

The dinar (Serbian Cyrillic: динар) was the currency in the Republic of Serbian Krajina between 1992 and 1994.

List of currencies

A list of all currencies, current and historic. The local name of the currency is used in this list, with the adjectival form of the country or region.

Omar al-Bashir

Omar Hassan Ahmad al-Bashir (Arabic: عمر حسن أحمد البشير‎, pronounced [ba'ʃiːr]; born 1 January 1944) is a Sudanese politician who served as the seventh President of Sudan from 1989 to 2019 and founder of the National Congress Party. He came to power in 1989 when, as a brigadier in the Sudanese Army, he led a group of officers in a military coup that ousted the democratically elected government of prime minister Sadiq al-Mahdi after it began negotiations with rebels in the south. Since then, he has been elected three times as President in elections that have been under scrutiny for electoral fraud. In March 2009, al-Bashir became the first sitting president to be indicted by the International Criminal Court (ICC), for allegedly directing a campaign of mass killing, rape, and pillage against civilians in Darfur.In October 2005, al-Bashir's government negotiated an end to the Second Sudanese Civil War, leading to a referendum in the South, resulting in the separation of the south as the country of South Sudan. In the Darfur region, he oversaw the war in Darfur that has resulted in death tolls that are about 10,000 according to the Sudanese Government, but most sources suggest between 200,000 and 400,000. During his presidency, there have been several violent struggles between the Janjaweed militia and rebel groups such as the Sudanese Liberation Army (SLA) and the Justice and Equality Movement (JEM) in the form of guerrilla warfare in the Darfur region. The civil war has displaced over 2.5 million people out of a total population of 6.2 million in Darfur and has created a crisis in the diplomatic relations between Sudan and Chad. The rebels in Darfur lost the support from Libya after the death of Muammar Gaddafi and the collapse of his regime in 2011.In July 2008, the prosecutor of the International Criminal Court (ICC), Luis Moreno Ocampo, accused al-Bashir of genocide, crimes against humanity, and war crimes in Darfur. The court issued an arrest warrant for al-Bashir on 4 March 2009 on counts of war crimes and crimes against humanity, but ruled that there was insufficient evidence to prosecute him for genocide. However, on 12 July 2010, the Court issued a second warrant containing three separate counts of genocide. The new warrant, like the first, was delivered to the Sudanese government, which did not recognize either the warrant or the ICC. The indictments do not allege that Bashir personally took part in such activities; instead, they say that he is "suspected of being criminally responsible, as an indirect co-perpetrator". Some international experts think it is unlikely that Ocampo has enough evidence to prove the allegations. The court's decision is opposed by the African Union, League of Arab States and Non-Aligned Movement as well as the governments of Russia and China.From December 2018 onwards, Bashir faced large-scale protests which demanded his removal from power. On 11 April 2019, Bashir was ousted in a military coup d'état. This was confirmed by the Sudanese Armed Forces in an "important announcement" on state television.

Redenomination

Redenomination is the process of changing the face value of banknotes or coins used in circulating currency. It may be done because inflation has made the currency unit so small that only large denominations of the currency are circulated. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as adopting a new currency as with the Euro or decimalisation. The article deals with these various types of redenomination in detail.

Sudanese pound

The Sudanese pound (Arabic: جنيه سوداني (Junaih Sudani) 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.

Tables of historical exchange rates to the United States dollar

Listed below is a table of historical exchange rates relative to the U.S. dollar, at present the most widely traded currency in the world. An exchange rate represents the value of one currency in another. An exchange rate between two currencies fluctuates over time. The value of a currency relative to a third currency may be obtained by dividing one U.S. dollar rate by another. For example, if there are ¥120 to the dollar and €1.2 to the dollar then the number of yen per euro is 120/1.2 = 100.

The magnitude of the numbers in the list does not indicate, by themselves, the strength or weakness of a particular currency. For example, the U.S. dollar could be rebased tomorrow so that 1 new dollar was worth 100 old dollars. Then all the numbers in the table would be multiplied by one hundred, but it does not mean all the world's currencies just got weaker. However, it is useful to look at the variation over time of a particular exchange rate. If the number consistently increases through time, then it is a strong indication that the economy of the country or countries using that currency are in a less robust state than that of the United States (see e.g., the Turkish lira). The exchange rates of advanced economies, such as those of Japan or Hong Kong, against the dollar tend to fluctuate up and down, representing much shorter-term relative economic strengths, rather than move consistently in a particular direction.

The data is taken at varying times of the year or maybe the average for the whole year. Some of the data for the years 1997-2002 refers to the rate on, or close to, January 1 of that year. Some of the data for 2003 refers to rates on May 28 for countries beginning with A-E, and June 2 for countries listed F-Z. Exchange rates can vary considerably even within a year and so current rates may differ markedly from those shown here. Caveat lector.

Currencies named dinar or similar
Circulating
Obsolete
As subunit
See also
Sudan articles
History
Geography
Politics
Economy
Society

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