10 Piastres – Sudan

In 1970, Sudan's currency situation was defined by its recent transition to an independent monetary system following the 1956 secession from Anglo-Egyptian rule. The nation was operating with the Sudanese pound (SDG), which had been introduced in 1957 to replace the Egyptian pound and establish financial sovereignty. However, the decade preceding 1970 saw persistent trade deficits and heavy reliance on agricultural exports, particularly cotton, making the currency vulnerable to volatile global commodity prices. This economic fragility was compounded by substantial government borrowing to fund development projects.

Politically, 1970 fell within the early, transformative years of Gaafar Nimeiry's regime, which came to power in a 1969 coup. Nimeiry's government pursued socialist and nationalist policies, including the nationalization of banks and major industries announced in May 1970. This dramatic shift towards state control directly impacted the financial sector, aiming to direct credit towards government priorities but also creating uncertainty for the currency. The state sought to use monetary policy to assert control over the economy, moving away from the colonial-era financial structures.

Consequently, the currency was under dual pressures: the structural weaknesses of a mono-crop export economy and the disruptive, albeit intentional, changes from sweeping nationalization. While the Sudanese pound remained the official currency, its stability and value were increasingly managed by a state apparatus seeking to consolidate economic power. This period set the stage for the chronic balance of payments problems and inflationary pressures that would challenge Sudan in the following decades, long before the severe crises associated with multiple devaluations and the introduction of new currencies in later years.