The importance of changing currency during the current stage ✍️ Teacher: Fikri Kabbashi, Al-Amin Al-Arabi
This article was written and published in March this year, in which I mentioned that there are several main reasons that require a change in the form of currency, the most important of which is the widespread spread of monetary counterfeiting, according to what was reported in the It may be expectations or rumors in light of the repercussions of this damn war, but caution is required and caution is called for at this stage in Sudan's history , as well as the black market boom in currency trading. the theft of a number of banks, in addition to the explosion of inflation and its high rates, so that the value of the local currency has constantly decreased in relation to other foreign currencies, as well as… During monitoring and monitoring, which confirmed the high rates of smuggling of public funds abroad after the outbreak of this cursed war, and the exposure of the state to systematic bankruptcy, the signs of which were evident in its manifest inability to fully pay its obligations of the first chapter, such as the salaries of civil servants, and on the other hand, the most important advantages of changing the form of currency are to attract the savings of citizens in the future , especially expatriates, towards the state banking sector, which means limiting and controlling the money supply, and this is considered one of the challenges that the Sudanese banking system is expected to face after the end of this war. Damn… while the biggest drawbacks are the cost that the state will bear for issuing the new currency, and according to what was previously announced regarding the currency change in Sudan, it was estimated at around 800 million dollars. is the high demand for foreign currencies due to the tendency of the majority of citizens to transfer their savings to avoid the controls that governments impose on cash withdrawals after having deposited all their savings in banks, leading to a increasing the exchange rate of foreign currencies against local currencies to increase demand when the change begins, but after moving forward, it will definitely The situation improves and changing the form of currency is not a fashion. On the contrary, in recent years many people have been forced to change the form of their local currency, although the motivations and reasons differ from country to country. The most significant of these countries are India, Venezuela, Turkey, Argentina, Brazil, Australia, Turkmenistan and England, Saudi Arabia, Morocco, and finally, it is worth noting that the printing process is secure, especially after modification and destruction. money presses in the city of Khartoum, and reservations must be made regarding the party that will undertake the printing process, as well as The country to avoid suspicion and fall back into the trap of rumors of fake…
Teacher: Fikri Kabashi Al-Amin
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