Expert: Gradually Withdrawing 1,000 Pound Denomination

Sudan Events – Nahid Oshi

Economist Dr. Mohammed Al-Nayer described the Central Bank of Sudan’s recent step to print the new 1,000-pound denomination bearing the signature of the new Governor instead of the previous one as normal, but he stressed the need for the Central Bank of Sudan to take steps on gradual withdrawing the old 1,000-pound denomination to replace it with the new one.
However, he said in a statement to (Sudan Events), “It was possible to issue a thousand-pound note and deal with it through banks, and the other issues would be withdrawn from the market.
He said this way the money that had been looted would be known by supplying huge sums of money to the banks, and its source and income would be traced.” He pointed out that there a lot of procedures waiting for the banking sector during the next stage in order to preserve the Sudanese economy and the stability of the exchange rate.”
He added, “Planning to print a new currency after the end of the war remains an important matter.”
He called for a reconsideration of the structure of Sudanese monetary denominations and thinking about the annulment of the 1000 and 500 pound denominations in the future