Developments on the domestic currency market have taken a calm course for more than one year now, which has gradually led to a convergence of the exchange rates. In view of the current circumstances, the Centrale Bank van Suriname is of the opinion that it can release and abolish the fixed minimum and maximum exchange rates of the US-dollar that were introduced on September 16, 2002.

Following a meeting with the banks and exchange offices, the Centrale Bank has decided to abolish the minimum and maximum exchange rates with effect from June 2, 2004.

The Centrale Bank trusts that relations will remain orderly on a lasting basis and that the currency market will continue to operate properly. It expresses the hope that it will not have to invoke its statutory authority again to set minimum and maximum exchange rates.

Paramaribo,
June 3, 2004
Centrale Bank van Suriname