Sudan Pound Valueless in the South

2 September 2011

Juba — The Sudan Pound (SDG) is no longer a legal tender in the Republic of South Sudan and is therefore valueless in the country, the Governor of the Bank of South Sudan Mr. Kornelio Koryom has announced.

Speaking to the press at the bank's premises in Juba this morning, the governor said that effective today the SDG can no longer be used to transact any business in South Sudan after the currency exchange period elapsed yesterday.

The governor also announced that the bank will soon release coins which he said will be in 50, 25, 10 and 5 piaster denominations.

Mr Koryom explained that the collected SDG will be kept by the bank awaiting the results of the ongoing negotiations facilitated by the African Union on whether the Republic of Sudan will redeem the old currency or not. He said the bank will decide what to do with the currency once the negotiations are complete and a conclusive decision is reached.

He commended the committee which coordinated the exercise for a job well done in spite of immense logistical challenges. He also thanked the governors of all the ten states of South Sudan for supporting the currency conversion program.

The press conference was also attended by the deputy governors Mr Jamal Abdalla Wani and Mr John Dour Majok. Also in attendance were the members of the currency exchange committee as well as senior Bank of South Sudan officers.

Source: allAfrica.
Link: http://allafrica.com/stories/201109021068.html.