What is the SDD (Sudanese Dinar)
The Sudanese dinar is a now-defunct currency.
BREAKING DOWN SDD (Sudanese Dinar)
The Sudanese dinar is a currency that is no longer in circulation. The currency was in use in the nation of Sudan from June of 1992 to January 2007. 100 dirham made up one Sudanese dinar which was presented with the symbol of LSd or £Sd. When abbreviated on the forex market, the Sudanese Dinar was represented by the acronym SDD
The Sudanese dinar, issued by the Bank of Sudan, first appeared in 1992 when it replaced the Sudanese pound, abbreviated as SDP, at a rate of 1:10. The Sudanese pound had been in circulation from 1956-1992 and was divided into 100 piastre or qirush. Though the dinar replaced the pound, the pound remained the currency used to quote prices in Southern Sudan. The Sudanese dinar remained in circulation until it was replaced by a second, new iteration of the Sudanese pound, abbreviated as SDG in 2007 at a rate of 1:100. While in circulation, the Bank of Sudan minted Sudanese dinar coins in denominations of 1, 2, 5, 10, 20 and 50 dinar. The government only changed the coinages once, with the issue in 2001 being smaller than the issue that took place in the 1990s. The Sudanese dinar appeared in banknotes with denominations of 5, 10, 25, 50, 100, 200, 500, 1,000, 2,000 and 5,000 dinar.
History of Sudanese Currency, from Pound to Dinar to Pound Again.
In 1956, Sudan replaced the Egyptian Pound with its own pound at par, when Anglo-Egyptian rule ceased on January 1,1956. Upon gaining their independence, the new Sudanese government issued their own currency, the first iteration of the Sudanese pound. From 1958-1978 the currency was pegged to the U.S. dollar. The Sudanese pound remained in use until it was replaced by the dinar in 1992. During the time of dinar’s run, it was still common in Southern Sudan to quote prices in the pound, and some areas even saw the use of the Kenyan shilling.
The second iteration of the Sudanese pound, issued by the Central Bank of Sudan, began in 2007 at a rate of one pound equaling 100 dinars. The new currency features both English and Arabic names for its denominations. The Central Bank of Sudan, located in the country’s capital, Khartoum, formed four years after the country's Independence in 1960. The Central Bank of Sudan operates over a dozen branches throughout the country.