Sudan to launch new currency

The Central Bank of Sudan, on July 16, announced that it would launch a new currency this month to avoid risks following the issue of currency of the new Republic of South Sudan. “The replacement of the old currency will take two to three months,” said Mohamed Khair Al-Zubair, Governor of the Bank of Sudan, at a press conference. He said the bank was ready to negotiate with the government of South Sudan to reach an agreement that guarantees restoration of the old currency.

The Republic of South Sudan said it would launch its new currency next Monday, a move criticised by the Sudanese Minister of Finance Ali Mahmoud who said there was an agreement to continue working with the Sudanese pound for six months. — Xinhua

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