July 16, 2011Sudan says will launch a new currency
KHARTOUM - Sudan's central bank said on Saturday it will launch a new currency this month after South Sudan announced that it planned to issue a currency of its own.
South Sudan, which had declared independence on the ninth of July, under a peace deal signed in 2005 ended decades of civil war, said on Monday he will begin offering its new currency pounds in southern Sudan next week and he Serbtha Sudanese pound limit when the current draw.
The governor of Central Bank of Sudan Mohamed Khair Al-Zubair in response to questions from reporters, said the new currency will be traded before the end of this month.
He added that the establishment of the currency may take from two to three months and that Sudan's good experience in it.
He said that the new currency is a precautionary measure after the Southern Sudan plans to issue its own currency.
The Sudanese pound down on the black market in Khartoum weeks ago Economists say the flow of hard currency to finance imports will drop with lower oil revenues.
Holds the State of South Sudan to about 75 percent of Sudan's oil production of 500 thousand barrels per day.
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