The term "Sudanese Monetary Unit" refers to the official currency of the Republic of Sudan, a country located in northeastern Africa. The Sudanese Monetary Unit is denoted by the currency code SDG and is commonly known as the Sudanese pound.
The Sudanese Monetary Unit is comprised of 100 subunits, referred to as piasters or qurush. However, due to inflation, the subunits have become obsolete in day-to-day transactions, and the Sudanese pound is now the primary form of currency used.
Established by Sudan's central bank, the Central Bank of Sudan, the Sudanese Monetary Unit serves as a medium of exchange and legal tender within the country. It is used for various economic activities, including purchasing goods and services, as well as for domestic and international trade.
The value of the Sudanese pound fluctuates in relation to other major world currencies, and its exchange rate is dependent on several factors, such as foreign exchange reserves, inflation rates, and supply and demand dynamics in the foreign exchange market.
The Sudanese Monetary Unit plays a vital role in Sudan's economy, facilitating economic transactions, stimulating economic growth, and supporting monetary and fiscal policy measures implemented by the government and central bank. It is widely accepted by businesses, financial institutions, and individuals across the country.
