On Sunday, Sudan launched its new currency and its new map in the aftermath of the carving out of a new country from its territory to sort out any fears of currency war. It was not stated that till what time the old currency would remain in circulation, but it was affirmed that the transition would be completed in a few days. There is a redrawn map of the country in the new Sudanese Pound including the absence of various symbols on the multicoloured notes as a result of the secession of the South on July 9. Now the exchange rate is one dollar to 3.5 Sudanese Pound in the black market in comparison to the official exchange rate of 2.67 Sudanese pounds.
The South Sudan pound which was launched last Monday in its capital Juba may threaten the devalue the Sudanese Pound and such a scenario has created a concern in both the countries regarding a flood of old notes.
REPORT BY BIKRAM SINGH RANA