The Sudanese pound (Arabic: جنيه سوداني is the basic unit of the Sudanese currency. The pound consists of 100 piasters; the pound is issued by the Central Bank of Sudan. Its value is linked to gold and convertible into foreign currencies. There are no restrictions on money transfers to and from Sudan; the Sudanese pound is equivalent to $0.021. It has been pegged to the United States dollar since around 1984; the pound fell for the first time since 1997 after the United States imposed economic sanctions on Sudan. The Sudanese pound continued its decline to an unprecedented number, falling to 53 pounds against the dollar; this situation, which drained all economic measures, led to heavy losses in the external repercussions of the Sudan as a whole, in the light of the government cut, interrupted by some of the failed actions announced by the Central Bank of Sudan, a severe shortage of liquidity. The Sudanese pound fell against the US dollar after the Central Bank of Sudan announced the lifting of the cash reserve to counter inflation.
Since the Secession of South Sudan in 2011, Sudan has suffered from a scarcity of foreign exchange for the loss of three quarters of its oil resources and 80% of foreign exchange resources. The Sudanese government quoted the official price of the dollar from 6.09 pounds to 18.07 pounds in the budget of 2018. The first pound to circulate in Sudan was the Egyptian pound; the late 19th century rebels Muhammad ibn Abdalla and Abdallahi ibn Muhammad both issued coins which circulated alongside the Egyptian currency. When Anglo-Egyptian rule in Sudan ceased on January 1, 1956 and Sudan became an independent country, a distinct Sudanese currency was created, replacing the Egyptian pound at par; the Egyptian pound was subdivided into 100 qirush. The qirsh used to be subdivided into 40 para, but decimalisation following the 1886 Egyptian currency reform established a 1/10 qirsh, which came to be known as a millim. Due to this legacy, the post 1956 Sudanese pound was divided into 100 qirush, subdivided into 10 millims.
During 1958-1978 the pound was pegged to the U. S. dollar at a rate of $2.87156 per Sudanese pound. Thereafter, the pound underwent successive devaluations; the pound was replaced in 1992 by the dinar at a rate of 1 dinar. While the dinar circulated in northern Sudan, in Southern Sudan, prices were still negotiated in pounds, whilst in Rumbek and Yei, the Kenyan shilling was used and accepted more within the transport sectors as well as for hotels/accommodation. According to the Comprehensive Peace Agreement between the government of the Republic of the Sudan and the Sudan People's Liberation Movement, the Central Bank of Sudan shall adopt a program to issue a new currency as soon as is practical during the Interim Period; the design of the new currency shall reflect the cultural diversity of Sudan. Until a new currency has been issued with the approval of the Parties on the recommendations of the CBOS, the circulating currencies in Southern Sudan shall be recognised; the second pound began introduction on 9 or 10 January 2007, became the only legal tender as of July 1, 2007.
It replaced the dinar at a rate of 1 pound = 1000 pounds. The third edition of the Sudanese pound was established on 24 July 2011 following the secession of South Sudan from the Republic of Sudan. For a wider history surrounding currency in the region, see The History of British Currency in the Middle East. In 1885, the Mahdi issued 20 qirush and gold 100 qirush; these were followed by issues of the Khalifa in denominations of 10 para, 1, 2, 2½, 4, 5, 10 and 20 qirush. These coins were minted in silver in 1885. Over the following eleven years, severe debasement occurred, leading to billon silver-washed copper and copper coins being issued; the coinage ceased in 1897. During 1908-1914, a local coinage was issued in Darfur in western Sudan; these were issued under the authority of resembled contemporary Egyptian coins. In 1956, coins were introduced in denominations of 2, 5 and 10 millim, 2, 5 and 10 qirush; the millim denominations were struck in bronze, whilst the qirush denominations were in cupro-nickel.
The 2, 5 and 10 millim were scallop shaped, although a round 5 millim was introduced in 1971. The 1 and 2 millim were last struck in 1969, the last 5 millim in 1978. In 1983, brass 1, 2 and 5 qirush, a reduced size 10 qirush and a cupro-nickel 20 qirush were introduced. In 1987, aluminium-bronze 1, 5, 10, 20, 25 and 50 qirush and 1 pound were introduced, with the 25 and 50 qirush square and octagonal in shape, respectively. In 1989, stainless-steel 25 and 50 qirush and 1 pound were issued; this is the general pattern, in addition to these coins there are collector-oriented issues and various oddities. See popular coin catalogues for details. See Sudanese dinar. Coins in denominations of 1, 5, 10, 20 and 50 qirush were introduced alongside the circulating dinar coins; the Central Bank of Sudan states that the 5 qirush coins are yellow coloured and the 10 qirush is silver coloured. The 20 and 50 qirush coins are bi-metallic, with the 20 qirush yellow ringed with a silver coloured centre and the 50 qirush the opposite.
This is thought to be in development. In April 1957, the Sudan Currency Board introduced notes for 1, 5 and 10 pounds. Note production was taken over by the Bank of Sudan in 1961. 20-pound notes were introduced in 1981, followed by 50 pounds in 1984 and 100 pounds in 1988.. When introduced on 8 June 1992, the Sudanese dinar replaced the first Sudanese pound at a rate of 1:10. In 2005, the National Public Rad
Australian ten-pound note
The Australian ten-pound note was a denomination of the Australian pound, equivalent to twenty dollars on 14 February 1966. This denomination along with all other pound denomination is still legal tender = twenty dollar note, it was first issued in 1911 onover printed banknotes issued by the various commercial and state banks of the time. In 1913 the first Australian banknote was issued, it featured a scene of the carting wheat at Narwonah in New South Wales. These banknotes were overprinted on private issue from various banks, signatures were Jas R Collins and Geo T Allen. A total of 152,675 banknotes were issued. Signatories: Collins/Allen; the reverse of the note possessed horizontal red/yellow bands. Signatories: Kell/Collins. 3,610,000 of these notes were printed. Sheehan/McFarlane. Banknotes of the Australian pound Reserve Bank of Australia Museum Australian stamp
New Jersey pound
The pound was the money of account of New Jersey until 1793. The British pound and some foreign currencies circulated, supplemented from 1709 by local paper money. However, although the notes were denominated in pounds and pence, they did not have the same value as the British pound sterling or of other colonial currencies with denominations in pounds. A proclamation of Queen Anne, issued in 1704 and legislated by parliament in 1707, standardized the value of all colonial currencies at 6 colonial schillings to a full weight Spanish Milled Dollar, in turn equivalent to 4 shillings 6 pence sterling; this made a colonial schilling equivalent to nine pence sterling and a colonial pound equivalent to 2 troy oz 18 dwt 8 gr of silver. Currency issued at this rate was referred to as “Proclamation Money”; the currency of colonial New Jersey consisted of bills of credit. Each issue was inscribed with the weight of silver it was current for; the initial 1709 issue passed at the rate of 2½ ounces of silver per New Jersey Pound, but issues after 1724 had inscriptions with specified the Proclamation Money rate.
Although that made a Spanish Milled Dollar worth 6 New Jersey shillings, accounts from the 1750s indicate that Spanish Milled Dollars passed for 8 shillings in New York and adjacent parts of East New Jersey and for 7 shillings 6 pence in Pennsylvania and West New Jersey. This practice, hence the value of New Jersey currency, remained stable up to the revolution and the reasons for its stability have been studied. Redemption theories attribute its stability to the fact that each issue of currency had a fixed redemption date and the colonial assembly redeemed its currency at face value with taxes which were feasible to collect. For issues of currency which New Jersey used to finance Queen Anne's War and the French and Indian War, taxes in equal amounts were voted on and approved with the issue of currency. Thus, the paper money provided “currency finance” for the war effort in anticipation of future tax income. In practice, theses issues were retired by citizens. New Jersey made additional issues of currency to make loans to citizens for the purchase of land, which served as collateral for the loans and hence as backing for the bills.
Here, the currency was retired by debtors using it to repay the loans. A competing theory attributes the stability of New Jersey’s currency to its circulation alongside precious metal coins or their equivalents; the agreement of merchants to accept it at the rate of 7 schillings 6 pence for a Spanish Milled Dollar gave it “de facto convertibility” and hence stability. The State of New Jersey issued Continental currency denominated in £sd and Spanish dollars, with $1 = 7/6. Copper coins were issued in the mid-1780s, bearing the Latin name of the state, Nova Cæsarea; the continental currency was replaced by the U. S. dollar at the rate of $1,000 continental = US$1. Stevens Institute of Technology's collection of NJ Currency relating to the University's founding lineage, Colonel John Stevens', role as treasurer of the State of New Jersey
The Israeli pound or Israeli lira was the currency of the State of Israel from 9 June 1952 until 23 February 1980, when it was replaced with the shekel on 24 February 1980, again replaced with the New Shekel in 1985. Until 1952, the name used on the notes of the Anglo-Palestine Bank was Palestine pound, in Hebrew לירה א"י. In Arabic, the name was given as junayh filisţīnī. On 1 May 1951, all the assets and liabilities of the Anglo Palestine Bank were transferred to a new company called Bank Leumi Le-Yisrael and the currency name became: lira yisraelit in Hebrew, junayh isrāīlī in Arabic, Israel pound in English; the new currency was issued in 1952, entered circulation on June 9. From 1955, after the Bank of Israel was established and took over the duty of issuing banknotes, only the Hebrew name was used, along with the symbol "I£"; the British Mandate of Palestine, which administered the territory now known as Israel, the West Bank and Gaza prior to May 15, 1948, issued the Palestine pound, a currency equal in value and pegged to the British pound, divided into 1000 mils.
Banknotes in circulation were issued by the Palestine Currency Board, subject to the British Secretary of State for the Colonies. Israel inherited the Palestine pound, but shortly after the establishment of the state, new banknotes were issued by the London-based Anglo-Palestine bank of the Zionist movement; the new coins were the first to bear the new state's name, the banknotes had "The Anglo-Palestine Bank Limited" written on them. While the first coins minted by Israel still bore the name "mil", the next ones bore the Hebrew name prutah. A second series of banknotes was issued after the Anglo-Palestine Bank moved its headquarters to Tel Aviv and became the Bank Leumi; the pegging to the UK Pound was abolished on January 1, 1954, in 1960, the subdivision of the pound was changed from 1000 prutot to 100 agorot. During the 1960s, a debate over the non-Hebrew name of the Israeli currency resulted in a law ordering the Minister of Finance to change the name pound into a Hebrew name, shekel; the law allowed the minister to decide on a proper date for the change.
The law did not come into effect until February 1980, when the Israeli government decided to change the monetary system and introduce the Israeli old shekel, at a rate of 1 shekel = 10 pounds. Israel's first coins were aluminium 25 mil pieces, dated 1948 and 1949, which were issued in 1949 before the adoption of the pruta. In 1949, coins were issued in denominations of 1, 5, 10, 25, 50, 100 and 250 prutah; the coins were conceived, by Israeli graphic designer Otte Wallish. All coins and banknotes issued in Israel before June 1952 were part of the Palestine pound. In 1960, coins were issued denominated in agora. There were 5, 10 and 25 agorot pieces. In 1963, 1/2 and 1 pound coins were introduced, followed by 5 lirot coins in 1978. In 1948, the government issued fractional notes for 100 mils; the Anglo-Palestine Bank issued banknotes for 500 mils, 1, 5, 10 and 50 lirot between 1948 and 1951. In 1952, the government issued a second series of fractional notes for 50 and 100 prutah with 250 prutah notes added in 1953.
In 1952, the "Bank Leumi Le-Israel" took over paper money production and issued the same denominations as the Anglo-Palestine Bank except that the 500 mils was replaced by a 500 prutah note. The Bank of Israel began note production in 1955 issuing notes for 500 pruta, 1, 5, 10 and 50 lirot. In 1968, 100 lirot notes were introduced, followed by 500 lirot notes in 1975. In the third banknote issue, released between 1973 and 1975, a feature was added to assist vision-impaired and blind people in identifying the denomination of a note. A tactile set of dots was used, with three on the five pound note, two on the 10 pound note, one on the 50 pound note, none on the 100 pound note, a large bar the length of three dots on the 500 pound note. Bank of Israel Economy of Israel Paul Kor Bank of Israel catalogue of Israeli currency since 1948 Israeli Lirah coins with pictures
The Gibraltar pound is the currency of Gibraltar. It is pegged to – and exchangeable with – the British pound sterling at par value. Coins and banknotes of the Gibraltar pound are printed by the Government of Gibraltar; until 1872, the currency situation in Gibraltar was complicated, with a system based on the real being employed which encompassed British and Gibraltarian coins. From 1825, the real was tied to the pound at the rate of 1 Spanish dollar to 4 shillings 4 pence. In 1872, the Spanish currency became the sole legal tender in Gibraltar. In 1898, the Spanish–American War made the Spanish peseta drop alarmingly and the pound was introduced as the sole currency of Gibraltar in the form of British coins and banknotes. In 1898, the British pound was made sole legal tender, although the Spanish peseta continued in circulation until the Spanish Civil War. Since 1927, Gibraltar has issued its own banknotes and, since 1988, its own coins. Gibraltar decimalised in 1971 at the same time as the UK, replacing the system of 1 pound = 20 shillings = 240 pence with one of 1 pound = 100 pence.
The since repealed Currency Notes Act 1934, conferred on the Government of Gibraltar the right to print its own notes. Notes issued are either backed by Bank of England notes at a rate of one pound to one pound sterling, or can be backed by securities issued by the Government of Gibraltar. Although Gibraltar notes are denominated in "pounds sterling", they are not legal tender anywhere in the United Kingdom. Gibraltar's coins are the same weight and metal as British coins, although the designs are different, they are found in circulation across Britain. Under the Currency Notes Act 2011 the notes and coins issued by the Government of Gibraltar are legal tender and current coin within Gibraltar. British coins and Bank of England notes circulate in Gibraltar and are universally accepted and interchangeable with Gibraltarian issues. In 1988, coins in denominations of 1, 2, 5, 10, 20 and 50 pence and 1 pound were introduced which bore specific designs for and the name of Gibraltar, they were the same sizes and compositions as the corresponding British coins, with 2 pound coins introduced in 1999.
A new coin of 5 pounds was issued in 2010 with the inscription "Elizabeth II · Queen of Gibraltar". This issue caused controversy in Spain, where the title of King of Gibraltar corresponds to the crown of Castile; the £2 coin has featured a new design every year since its introduction, as it depicts each of the 12 Labours of Hercules. In 2004 the Government of Gibraltar minted a new edition of its coins to commemorate the tercentenary of British Gibraltar. At the outbreak of World War I, Gibraltar was forced to issue banknotes to prevent paying out sterling or gold; these notes were issued under emergency wartime legislation, Ordinance 10 of 1914. At first the typeset notes were signed by hand by Treasurer Greenwood, though he used stamps; the notes bore the embossed stamp of the Anglo-Egyptian Bank Ltd. and circulated alongside British Territory notes. The 1914 notes were issued in denominations of 2s, 10s, £1, £5 and £50; the 2s and £50 notes were not continued when a new series of notes was introduced in 1927.
The 10s note was replaced by the 50p coin during the process of decimalization. In 1975, £10 and £20 notes were introduced, followed by £50 in 1986; the £1 note was discontinued in 1988. In 1995, a new series of notes was introduced which, for the first time, bore the words "pounds sterling" rather than just "pounds"; the government of Gibraltar introduced a new series of banknotes beginning with the £10 and £50 notes issued on July 8, 2010. On May 11, 2011, the £5, £20 and £100 notes were issued. Economy of Gibraltar Currency board Christopher Ironside, OBE, coin designer: reverse design of the 25 New Pence coin, Barbary ape. Banknotes of Gibraltar: Catalog of Gibraltar Shillings and Pounds The current banknotes of Gibraltar
The Manx pound is the currency of the Isle of Man, in parity with the pound sterling. The Manx pound is divided into 100 pence. Notes and coins, denominated in pounds and pence, are issued by the Isle of Man Government; the Isle of Man is in a one-sided de facto currency union with the United Kingdom: the Manx government has decided to make UK currency legal tender on the island, to back its own notes and coins with Bank of England notes. Manx government notes may, on demand, be exchanged at par for Bank of England notes of equivalent value at any office of the Isle of Man Bank. All notes and coins which are legal tender in any part of the United Kingdom are legal tender within the Isle of Man. Unlike Northern Irish and Scottish notes, the UK does not require the Isle of Man government to back the Manx notes and coins with Bank of England notes or securities. There is no restriction under UK law on the number of coins they may issue; the notes and coins are not underwritten by the UK government, there is no guarantee of convertibility beyond that given by the Manx authorities.
However, the requirement in the island's Currency Act 1992 for the Isle of Man Treasury to exchange Manx Pound banknotes on demand for Bank of England notes in practice restricts the issue of unbacked currency, the aggregate total of notes issued must be pre-approved by Tynwald. ISO 4217 does not include a separate currency code for the Manx pound, but where code distinct from GBP is desired, IMP is used. UK notes and coins are accepted in the Isle of Man, but Manx notes and coins are not accepted in the UK. To assist those travelling, the ATMs at the Sea Terminal, at Isle of Man Airport issue Bank of England notes only. A number of businesses accept euros; the first Manx coinage was issued in 1668 by John Murrey, a Douglas merchant, consisting of pennies equal in value to their English counterparts. These "Murrey Pennies" were made legal tender in 1679, when the Court of Tynwald outlawed the unofficial private coinage, circulating prior to and alongside John Murrey's pennies. Due to the difficulty of maintaining the supply of coins on the island, in 1692, the value of the Manx coinage was decreased, with English crowns circulating at 5 shillings 4 pence, half-crowns at 2 shillings 8 pence and guineas at 22 shillings.
At that time, Tynwald forbade the removal of money from the island, in an attempt to maintain supply. In 1696, a further devaluation occurred, with all English silver and gold coins valued at 14 Manx pence for every shilling. Between 1696 and 1840, Manx copper coins circulated alongside first English, British silver and gold coins at the rate of 14 pence to 1 shilling; as in England, there were 20 shillings to the pound. Thus, after 1696, £100 sterling was worth £116 13s 4d Manx. In 1708, the Isle of Man Government approached the Royal Mint, requested that coinage be issued for the island; the Master of the Mint, Sir Isaac Newton, refused. As a result, the first Government issue of coins on the island was in 1709; this coinage was made legal tender on 24 June 1710. In 1733 Tynwald prohibited the circulation of any "base" coinage other than that issued by the Government; because of the similarity between Manx and British coins, it was profitable to change shillings to Manx coinage and pass it off as British currency in Great Britain, making a profit of £2 for every £12 in Manx coinage so transferred.
This happened on such a scale that by 1830 the island was totally deprived of copper coinage. In an attempt to resolve this problem, a proposal was introduced to abandon the separate Manx coinage in favour of British coins; this was rejected by the House of Keys in 1834, but they were overruled by the British Government in 1839. An Act was passed declaring that "... the currency of Great Britain shall be and become, is hereby declared to be, the currency of the Isle of Man", this remains Manx law to this day. This change was resented: some islanders felt defrauded, there was serious rioting in Douglas and Peel; these were known as the "Copper Row" riots, were put down by the Manx militia. The Royal Mint issued a total of £1,000 in copper coins. Following an Act in 1840, these were valued at 12 pence to the shilling. All coins issued before 1839 were declared by this law to be no longer current, were recalled by the Board of Customs and exchanged by the Royal Mint at their original nominal value for the new coinage.
After 1839, no further Manx coins were issued, they became scarce and were replaced in general circulation on the island by the coinage of the United Kingdom. They did not cease to be legal coinage on Mann until decimalisation in 1971. Banknotes had been issued for the island since 1865. In 1971 the United Kingdom moved with the pound subdivided into 100 pence; the Isle of Man Government, having issued its own banknotes for ten years, took the opportunity to approach the Royal Mint and request its own versions of the decimal coins, which were introduced in 1971. The "Murrey Pennies" of 1668 were the first to depict the'triskeles' symbol and the Island motto "Quocunque Gesseris Stabit", both of which have continued to feature on Manx coinage until the present day. In 1709, pennies and halfpennies were introduced. More of these coins were issued in 1733; these issues of coins have the crest of the Stanley family, Lords of Mann, on the obverse, together
South African pound
The pound was the currency of the Union of South Africa from the creation of the country as a British Dominion in 1910. It was replaced by the same year that South Africa became a republic. In 1825, an imperial order-in-council made sterling coinage legal tender in all the British colonies. At that time, the only British colony in Southern Africa was the Cape of Good Hope Colony; as time went on, the British pound sterling and its associated subsidiary coinage became the currency of every British territory in Southern Africa. The pound at that time was subdivided into each of 12 pence; the pound sterling became the standard currency of the Cape of Good Hope colony in 1825 following an imperial order-in-council, issued for the purpose of introducing the sterling coinage into all the British colonies. British coins replaced the Dutch currency. Before a unified South Africa, many authorities issued coins and banknotes in their own pound, equivalent to sterling; the Transvaal Republic, the Boer state that in 1902 was to become Transvaal Colony, issued notes from 1867 to 1902 and coins from 1892 to 1902.
The gold coins were denominated in pond rather than pounds. In 1920, the Treasury issued gold certificate notes; the following year, the South African Reserve Bank was established as the sole note issuing authority. Coins were issued from 1923; the South African pound remained equal to the pound sterling throughout its existence, except for a short period following the abandonment of the gold standard in the United Kingdom in 1931. When the United Kingdom abandoned the gold standard in September 1931, Canada followed suit because it had been under the same pressure as the United Kingdom; the contraction of the money supply in the United States had been causing large amounts of gold bullion to flow west across the Atlantic Ocean, south into the United States. The situation in South Africa was different, because gold exportation to London was a major business. According to Jan Smuts in his biography, the Nationalists wanted to make a point of not automatically following suit with the United Kingdom, they perceived that they were in a strong position to do so.
For the United Kingdom and Canada, an outflow of gold was seen as a flight of gold, whereas for South Africa the same was seen as a profitable enterprise. The effect of South Africa's continuing adherence to the gold standard did not however turn out as Hertzog might have hoped; the South African pound rose in value against the pound sterling, this crippled South Africa's gold export industry overnight. By 1933, Hertzog abandoned the gold standard and the South African pound returned to parity with the pound sterling; the relief was felt immediately. The South African pound was replaced by the rand on 14 February 1961 at a rate of 2 rand; that rate continued until the Sterling devaluation in 1967. Eighteen years in 1892, the Transvaal Republic introduced coins in denominations of 1, 3 and 6 pence, 1, 2, 2½ and 5 shillings, ½ and 1 pond; the last of these coins were issued in 1900, except for siege 1 pond coins issued in 1902. The Union of South Africa issued coins from 1923, in denominations of ¼, ½, 1, 3 and 6 pence, 1, 2 and 2½ shillings, ½ and 1 sovereign.
The coins were the same weights as the corresponding British coins but the silver coins were struck in.800 fineness silver. Gold coins were struck until 1932. In 1947, 5 shilling coins were introduced, with occasional commemorative variants. In 1951, the silver coinage switched to.500 fineness. Gold bullion ½ and 1 pound coins were issued from 1952 in the same specifications as the ½ and 1 sovereign. All the coins had the British monarch on the obverse, with the titles in Latin, while the reverse had the denomination and "South Africa" written in English and Afrikaans; the government of the Cape of Good Hope issued a 1-pound note in 1835 and a 20-pound note in 1834. Between 1869 and 1872, the ZAR in Transvaal issued notes for 6 pence, 1, 2½, 5 and 10 shillings, 1, 5 and 10 pounds; the National Bank of the ZAR issued 1 pound notes between 1892 and 1893. During the Second Boer War, government notes were issued in denominations of 1, 5, 10, 20, 50 and 100 pounds. In 1920, Treasury gold certificate notes were issued in denominations of 1, 5, 100, 1,000 and 10,000 pounds, in Afrikaner and English script.
From 1921, the South African Reserve Bank took over the issuance of paper money, introducing notes for 10 shillings, 1, 5, 20 and 100 pounds. 20 pound notes were last issued in 1933, with 10 pound notes added in 1943. All banknotes were bilingual in Afrikaans. From 1948, two variants of each note were issued, one with English written first and the other with Afrikaans written first. Coins of the South African pound South African rand Coins of the South African rand Economy of South Africa