Sudan's central bank says it will begin circulating its new currency later this month.

Central Bank chief Mohamed Kheir al-Zubeir told reporters in Khartoum Saturday it would likely take two to three months for the old currency to be completely replaced.

Al-Zubeir said the government decided to issue the new money as a “precautionary measure” against South Sudan's decision to create its own new currency. President Omar al-Bashir announced the new currency plans during an address to the National Assembly in Khartoum on Tuesday.

South Sudan declared its independence a week ago. Its new currency is set to go into circulation Monday.

Sudan and South Sudan have yet to resolve who will control the oil-rich Abyei region and how to share oil revenue.

More than 75 percent of Sudan's oil revenue came from fields located in what is now South Sudan. However, South Sudan can only export its oil through pipelines that run north through Sudan.