BREAKING NEWS

North Sudan to launch new currency

By REUTERS

JULY 24, 2011 09:57

KHARTOUM - Sudan will start circulating its new currency on Sunday, the central bank said, days after South Sudan started rolling out a currency of its own.

South Sudan, which declared independence on July 9 under a 2005 peace deal that ended decades of civil war, said last Monday it had started circulating its new South Sudan pound, pegging it one-to-one with Sudan's existing pound .

In a brief statement, the northern central bank said the new currency would go into circulation on Sunday.

It previously said it would take up to three months to replace the old Sudanese pound, describing the currency move as "precautionary measure" following the southern plans.

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