Central Bank Introduces New 1,000-Pound Banknote

Port Sudan – Sudanhorizon

The Central Bank of Sudan announced the upcoming release of a new 1,000-pound banknote.
In a statement on Saturday, obtained by “The Investigator” news website, the Central Bank explained that this measure is part of its responsibility to protect the national currency, stabilize its exchange rate, and support economic stability. The bank aims to counter the adverse effects of the ongoing war, especially the widespread looting of Central Bank facilities and the Sudan Currency Printing Company in Khartoum by rebel militias.
The bank revealed that large quantities of counterfeit and technically non-compliant currency have been circulating, particularly in the 1,000-pound and 500-pound denominations. This has significantly increased the cash supply and negatively impacted overall price stability.
The Central Bank confirmed that commercial banks and their branches will continue to receive 1,000-pound and 500-pound banknotes from citizens. This will allow them to deposit and store them in accounts, enabling account holders to access their balances through various payment methods.
The bank also indicated that commercial banks would facilitate opening accounts for citizens who currently do not have them, allowing them to deposit their 1,000-pound, 500-pound, and other banknotes to benefit from banking services, including electronic payments.
The bank announced that it would later specify a date to discontinue the use of the current versions of the 1,000-pound and 500-pound notes, at which point they would no longer be considered legal tender.