Sudan’s old currency to be withdrawn from circulation in July

May 27, 2007 (KHARTOUM) — The Sudanese central bank announced on Sunday that the old Sudanese currency of Darfur will stop in circulation within one month to let the new Sudanese Pounds to take its place.

Deputy Governor of the Bank of Sudan Badr-Eddin Mahmoud said at a press conference that the first stage of the substitution of the Sudanese Pounds (one Sudanese Pound equals half U.S. dollar) had finished.

“Since April, new bank notes and coins of various values have been put into circulation in the market while 70 percent of the old currency had been withdrawn”, Mahmoud said.

The second stage will started on June 1 during which the old currency could be changed into the new one in the central bank and its branches as well as commercial banks in Sudan.

From July 1, the old Sudanese Dinar can not be used for transaction but will be accepted for exchange in banks, Mahmoud said, adding that the central bank had prepared enough notes and coins of the new currency for the replacement.

He said that the print of the new currency had cost 156 million U.S. dollars.

According to the Comprehensive Peace Agreement signed between the Sudanese government and the Sudan People’s Liberation Movement in 2005 to end the 21-year civil, a new currency must be issued to replace the old Dinar in order to represent the unity of the country.

(Xinhua)