Economy, Currency

The official unit of currency is the dinar. In 1992 the dinar replaced the Sudanese pound, with an official exchange rate of 1 dinar to 10 pounds. The pound, however, remains a legal tender (257 pounds equal U.S.$1; 2000 average). Sudan has prohibited the establishment of foreign banks since 1985. The application of Islamic law to banking practices in 1991 put an end to the charging of interest in official transactions.