Sudan’s economy has faced significant challenges, including a severe cash shortage and soaring prices for commodities.
“This resulted in the spread of large quantities of banknotes of unknown origin and not conforming to technical specifications in the SDG1,000 and SDG500 denominations, which has led to a clear increase in the level of cash liquidity and a negative impact on the stability of the general price level,” the Central Bank of Sudan says.
Sudan is introducing new 500 ($0.20) and 1,000 ($0.50) Sudanese Pound banknotes, featuring advanced security specifications to combat counterfeiting and stabilize the exchange rate.
The value of the Sudanese Pound has plummeted by over 350% in recent months, leading to widespread protests.
To address these issues, the government launched a currency exchange initiative, allowing citizens to exchange old banknotes for new ones.
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The deadline for this exchange was initially set for December 23 but has been extended twice, first to December 30 and then to January 6, 2025.
The currency exchange initiative aims to ease the liquidity crisis.
However, its implementation has been challenging, particularly in areas controlled by the Rapid Support Forces (RSF), which have prohibited the use of the new currency.
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