South Sudan Bans Use Of Sudanese Currency

The Republic of South Sudan yesterday banned the use of the Sudanese Pounds in the country since their time of usage had expired.

“We are informing everyone that by the 25th of this month no old Sudanese Pounds should be accepted,” Kornelios Koriom, the new Care Taker Governor of the South Sudan Central Bank told the press in Juba.

The Governor explained that the use of the Sudanese Pounds had already expired following the first 45 days lapse when that the bank had determined its conversion.

He said before the interim period for the conversion ends on September 1st as determined by the bank, the Sudanese Pounds “should now be rejected.”

“Businessmen who are concerned with the move should acquire the South Sudanese Pounds from any bank or exchange centres,” Kornelios stressed.

“As we speak now, we have collected nearly 1.4billion Sudanese Pounds,” he pointed out.

South Sudan launched her new currency on July 18th 2011 shortly after gaining independence on July 9th 2011.

Earlier on the bank mentioned that there was a total of 2.1billion Sudanese Pounds in circulation, hence the strict deadline of 45 days for conversion to the new currency to save the country from realizing acute inflation.