Best Bitcoin Exchange for South Sudan

Southern Sudan is a country in the northeastern region of Africa. It is a landlocked country that borders Sudan in the north, Ethiopia in the east, Kenya, Uganda and the Democratic Republic of Congo in the south and the Central African Republic in the west. Southern Sudan’s capital is Juba, which is also the largest city. The country gained independence from Sudan in 2011 after a period of civil war. The official language of Southern Sudan is English along with other recognized national languages such as Dinker, Nuer, Luo, Bari and Zande. The official currency of Southern Sudan is the South Sudan Pound. It is divided into 100 units called piasters and was approved after approval by the Legislative Assembly of Southern Sudan during the July-2011 secession.

History of the South Sudan Pound

The new currency was introduced after the spin-off from Sudan in July 18, 2011. The Southern Sudan Pound note shows the image of John Garang, who was the leader of the rebel movement from the South. The banknotes contain 6 different denominations in the form of pounds and 5 other denominations in the form of piasters. The highest banknote is 100 pounds, while the lowest is 1 pound. Other banknotes contain 5, 10, 25 and 50 pound banknotes. Coins issued include 5, 10, 25, 50 and 1 piasters. Later, in October 2011, some of the Piaster coins were replaced by 25, 10 and 5 Piaster banknotes. The Southern Sudan 25 pound note was replaced in 20 by the 2016 pound note and issued by the Bank of Southern Sudan. The 1 pound banknote has since been replaced by the 1 pound coin to reduce currency confusion and facilitate transactions. Alternatively, banknote redesigns have also been implemented for 10, 20 and 100 pound notes. There have recently been allegations that the Bank of Southern Sudan plans to introduce new notes of 200, 500 and 1,000 South Sudanese pounds. However, this is not the case, as confirmed by the Governor of the Bank of Southern Sudan.

Banknotes and coins

The introduction of the new Piaster notes should facilitate the transaction by introducing cheap notes for the purchase of smaller items costing less than 1 pound. According to various reports, this introduction was welcomed by the Southern Sudanese. With the introduction of the new inferior piaster notes, the 50-piaster denomination was preferred to the coin currency. The Piaster Notes were printed by the South African company De la Rue.

These notes differ from the pound notes in that the portrait is placed on the right side of the note instead of on the left. The Piaster notes retain the same signature as the higher denomination Pound notes. Another element of the Piaster notes is that they have no security thread.

The coins were introduced during Independence Day and the circulation began on 9 July 2015, when the country marked its fourth Independence Day. The coin consists of an engraved image of the first president of Southern Sudan, Salva Kiir. The coins are in denominations of 5, 20 and 50 piasters.

The youngest currency in the world

The preparations had taken many months. But since July 9, Southern Sudan has been independent and since July 14, the 193rd state has been a member of the United Nations. However, the introduction of a new currency was hardly less costly than the founding of the state itself. The Swiss National Bank helped the new state to set up its own central bank, and the British banknote manufacturer De La Rue produced the notes. Since the week before last they were gradually brought into the country by plane, and since Monday last week they have been in use and represent the youngest currency in the world: the Southern Sudan Pound.

It replaces the Sudanese pound, which in turn has not existed for long. It was only introduced in 2007, when it replaced the Sudanese dinar. This currency changeover was part of the peace agreement with the independence fighters from the south. For them, the dinar had been a symbol of oppression. It had been introduced in 1992. Before that, the Sudanese pound had been the currency of the country for almost 40 years.

So there was a constant back and forth in the names of the country’s currency. Now this seems to have found a happy end at least for the southern part of the country, which has just become independent. However, the design of the new banknotes now in force there is rather unspectacular. On the front a portrait of John Garang dominates on all banknotes. He had led the rebels in the fight against the Sudanese government for about 20 years. In 2005, he was instrumental in negotiating the peace treaty, which led to his promotion to vice-president. However, this phase lasted only a few months before he died in a helicopter crash. Although both the government in Khartoum and those responsible in the southern part of the country claimed that bad weather was the cause of the disaster, doubts never completely ceased.

The backs of the bills depict the flora and fauna of the new state. In addition, the picture of a lion lying comfortably in front of a waterfall is tried, or there are two onyx antelopes to be seen, buffalos or an elephant family – just as one imagines Africa. The only language on the bills is English, which is the official language of the country where hundreds of different African languages are spoken.

The choice of colours for the notes is somewhat unfortunate, as the 10 pound note and the 100 are both printed in a blue shade. In addition, the values are integrated in the banderoles at the top and bottom end and are therefore somewhat difficult to recognize. The danger of confusion is therefore obvious and could soon become a problem.

What is unusual about the new notes is that there is a 25er note. In the past, these values were quite common in various currencies, such as the Dutch guilder or the Estonian kroon. With the adoption of the euro in these countries, however, such notes were on the retreat, especially as other countries, such as South American Suriname, also abandoned these values. But now, for the first time in a long time, a country has been added that has this rare denomination. Even the previously valid currency, the Sudanese pound, did not have a 25er note.

The exchange rate to the Sudanese pound is, by the way, one to one. In the coming months, the old notes are to be completely exchanged for banknotes of the new Southern Sudanese pound. Sudan, however, is now also planning a new currency, also to protect its economy from uncontrolled money inflows from the South. When the new money will be introduced there, however, has not yet been decided, nor has its name. It is possible that there will follow a new role backwards, to the Sudanese dinar.