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South Sudanese pound

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South Sudanese pound
ISO 4217
CodeSSP (numeric: 728)
Subunit0.01
Unit
SymbolSS£[1]‎
Denominations
Subunit
 1/100piaster
Banknotes5, 10, 25 piasters,[2] 1, 5, 10, 20, 25, 50, 100, 500 pounds
Coins10, 20, 50 piasters, 1, 2 pounds[3][4]
Demographics
User(s) South Sudan
Issuance
Central bankBank of South Sudan[5]
Valuation
Inflation476%
 Sourcehttps://www.cia.gov/library/publications/the-world-factbook/geos/od.html 2016
File:South S Independence Day 9 July 2011 views 050 558 kb.jpg
Enlarged new banknotes on display during the Independence celebrations on 9 July 2011

The South Sudanese pound (ISO 4217 code: SSP) is the official currency of the Republic of South Sudan. It is subdivided into 100 piasters. It was approved by the Southern Sudan Legislative Assembly before secession on 9 July 2011 from Sudan.[6] It was introduced on 18 July 2011, and replaced the Sudanese pound at par.[7]

Banknote designs

The banknotes feature the image of John Garang de Mabior, the deceased leader of South Sudan's independence movement.[8]

Six different denominations (1, 5, 10, 25, 50, 100 and 200 pounds) in the form of banknotes have been confirmed, and five denominations (1, 5, 10, 25 and 50 piasters) will be issued in the form of coins.[9][10]

Three new banknotes for 5, 10, and 25 piasters were issued 19 October 2011.[11]

The first circulation coins of the South Sudanese pound denominated in 10, 20, and 50 piasters were issued 9 July 2015, on occasion of the fourth anniversary of independence from Sudan.[12]

In 2016, the Bank of South Sudan issued a 20 South Sudanese pound banknote to replace the 25 South Sudanese pound banknote.[13] In 2018, the Bank of South Sudan introduced a 500 South Sudanese pounds banknote to ease daily cash transactions following years of inflation.[14]

As part of a currency redesign to reduce confusion, a 1 Pound coin was released to replace the 1 Pound banknote, and a coin for 2 Pounds has also been released at the same time as the 2 Pound banknote.[15][16] The 10, 20 and 100 pound notes were all redesigned.[15]

In November 2016 the Governor of the Bank of South Sudan issued a statement dismissing as false reports claiming that the bank was printing new notes in denominations of 200, 500 and 1,000 pounds.[17]

Banknotes of the South Sudanese pound
Images Value Obverse Reverse Watermark
[1] 5 South Sudanese piasters Dr. John Garang de Mabior Ostrich The Flag of South Sudan in repeated rows and Dr. John Garang de Mabior on the right front of the note
[2] 10 South Sudanese piasters Dr. John Garang de Mabior Kudu The Flag of South Sudan in repeated rows and Dr. John Garang de Mabior on the right front of the note
[3] 25 South Sudanese piasters Dr. John Garang de Mabior River Nile The Flag of South Sudan in repeated rows and Dr. John Garang de Mabior on the right front of the note
[4] 1 South Sudanese pound Dr. John Garang de Mabior Giraffes Dr. John Garang de Mabior and an electrotype 1
[5] 5 South Sudanese pounds Dr. John Garang de Mabior Sanga cattle Dr. John Garang de Mabior and an electrotype 5
[6] 10 South Sudanese pounds Dr. John Garang de Mabior Buffaloes; pineapple Dr. John Garang de Mabior and an electrotype 10
[7] 20 South Sudanese pounds Dr. John Garang de Mabior Oryx antelopes; oil derrick Dr. John Garang de Mabior and an electrotype 20
[8] 50 South Sudanese pounds Dr. John Garang de Mabior Elephants Dr. John Garang de Mabior and an electrotype 50
[9] 100 South Sudanese pounds Dr. John Garang de Mabior Lion; waterfall Dr. John Garang de Mabior and an electrotype 100
[10] 500 South Sudanese pounds Dr. John Garang de Mabior River Nile Dr. John Garang de Mabior and an electrotype 500

Coins

Coins denominated 10, 20, and 50 Piasters were put into circulation on 9 July 2015 (South Sudanese Independence Day).[18] As of 2016, South Sudan's coins are being struck at the South African Mint.[16]

Bimetallic coins denominated 1 Pound and 2 Pounds have been put into circulation during 2016.[15]

The Coat of arms of South Sudan with the country name 'REPUBLIC OF SOUTH SUDAN' and the date will appear on the obverses. The various coins will include the following:[19]

  • 10 Piasters - Copper-plated Steel - Oil rig.
  • 20 Piasters - Brass-plated Steel - Shoebill stork.
  • 50 Piasters - Nickel-plated Steel - Northern white rhino.
  • 1 Pound - Bronze-plated Steel centre / Nickel-plated Steel ring - Nubian giraffe.
  • 2 Pounds - Nickel-plated Steel centre / Bronze-plated Steel ring - African Shield.

References

  1. ^ https://qz.com/africa/447398/four-years-in-the-worlds-newest-country-south-sudan-introduces-its-first-coins/
  2. ^ "South Sudan new piaster notes (B101 - B103) confirmed". Banknote News. Retrieved 17 November 2011.
  3. ^ http://www.worldbcnews.com/newissues/newissues.html
  4. ^ Rivera, David (9 July 2015). "World Coin News: South Sudan 2015 - New coin family". Retrieved 9 July 2015.
  5. ^ Adaku Samuel. "South Sudan To Issue New Currency On July 9". Juba Post. Archived from the original on 17 July 2011. Retrieved 10 July 2011.
  6. ^ SSLA endorses national anthem and coat of arms. 26 May 2011 Archived 31 July 2011 at the Wayback Machine
  7. ^ "South Sudan Pound released July 18". Archived from the original on 25 January 2012.
  8. ^ "South Sudan pound to be launched next week". BBC News. 11 July 2011. Retrieved 11 July 2011.
  9. ^ South Sudan Pound to be released by Monday - Government of South Sudan official website. Published 12 July 2011. Retrieved 13 July 2011.
  10. ^ South Sudan issued new pound notes 18 July 2011, BanknoteNews.com. Retrieved on 5 September 2011.
  11. ^ Linzmayer, Owen (2012). "South Sudan". The Banknote Book. San Francisco, California: Banknote News.
  12. ^ World’s Newest Country Issues Circulation Coins on National Independence Day Coin Update (news.coinupdate.com). 10 July 2015. Retrieved on 13 July 2015.
  13. ^ South Sudan new 20-pound note (B111) confirmed BanknoteNews.com. 22 April 2016. Retrieved on 22 April 2016.
  14. ^ South Sudan new 500-pound note (B116) reported Banknote News (banknotenews.com). 15 June 2018. Retrieved on 16 June 2018.
  15. ^ a b c Ofori-Atta, Prince. "South Sudan introduces new bank notes | East & Horn Africa". www.theafricareport.com. Retrieved 31 October 2016.
  16. ^ a b "2 Pounds 2016, South Sudan | Catalog | CoinBrothers". coin-brothers.com. Retrieved 31 October 2016.
  17. ^ "S. Sudan bank governor denies introducing new bank note". Sudan Tribune. 26 November 2016. Retrieved 27 November 2016.
  18. ^ "South Sudan government to introduce coins on Independence Day". Sudan Tribune. 8 July 2015. Retrieved 4 August 2015.
  19. ^ "World's Newest Country Issues Circulation Coins on National Independence Day | Coin Update". news.coinupdate.com. Retrieved 31 October 2016.
Current SSP exchange rates
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