The Centrale Bank van Suriname (CBvS) opened its doors on the 1st of April 1957 and has ever since fulfilled an important role in the Surinamese economy.

The CBvS is a unique financial institution and cannot be simply compared to the commercial banks. It functions as the monetary institution entrusted with the issuance into circulation of the Surinamese currency. The CBvS is also the custodian of the international reserves of the country and safeguards that sufficient gold and foreign currency reserves are available to meet Suriname’s external payment obligations.

The CBvS sees to it that the stability of the domestic and external value of the Surinamese currency is safeguarded.

Obviously, there was money in circulation in the Surinamese economy even before the CBvS was established in 1957. The first coin was used in 1679 and was called the Papegaaienmunt (the parrot coin). On the coin a parrot is portrayed sitting on a branch with either one, two or four leaves. One leave equalled one pound of sugar, which then cost five cents.

Due to the high cost to produce the coins, the colonial representative decided in 1757 to use playing cards as money. The cards got a face value, a stamp and an official’s signature and were then issued as official money in Suriname. For a while Dutch money shipped from overseas was also being used as currency. This also proved cumbersome; therefore, in 1829 the West-Indische Bank was established in Paramaribo, with a mandate to issue a limited number (and value) of banknotes. Due to some problems this bank ceased to exist in 1848. There were banknotes in circulation but nowhere to centrally store, check, and re-issue them.

As the economy grew, that is, trade and commerce and lending and savings were expanding, the need for a larger stock of money and its circulation became evident.

De Surinaamsche Bank (DSB) was established in 1865. Despite the name, the investment capital of this bank was largely in hands of private persons and entities in the Netherlands. The prints on the banknotes issued by DSB did carry Surinamese scenery and symbols. This bank performed the role of circulation bank but the colony Suriname was now in need of a ‘central’ bank, which was established in 1957.

In 1954 the Statute came into operation, defining status and roles for the Kingdom of the Netherlands and its Overseas Constituencies. As a result, some functions of local government in Suriname changed, amongst others, the organization of money. Suriname needed more functionality, more ‘authority’ around the issuance, control and safeguarding of its money in circulation. It is for these reasons that eventually the Central Bank of Suriname was established as the independent institution with expertise on keeping the value of the currency safe and stable.

Exchange RatesSeptember 23rd and until further notice

Currency Buying Selling
USD 14,018 14,290
EUR 16,451 16,779
GBP 17,932 18,288
ANG 7,699 7,852
AWG 7,784 7,939
BRL 2,583 2,635
TTD 2,064 2,104
BBD 6,907 7,044
XCD 5,190 5,293
PER 100 GYD 6,657 6,790

Gold CertificatesSeptember 23rd and until further notice

Coupon SRD
5 gram 8.763,24
10 gram 17.526,48
50 gram 87.632,41
100 gram 175.264,82
500 gram 876.324,08
1000 gram 1752648,16
Gold LME: USD 1.907,40 /tr.oz.

Inflation

  Average End-of-period
2012 5.0 4.3
2013 1.9 0.6
2014 3.4 3.9
2015 6.9 25.1
2016 55.5 52.4
2017 22.0  9.2 
2018 6.8# 5.4 
2019 4.4#  4.2 
     
2020 Month-to-month Year-to-year
Jan 0.7 4.2
Feb 2.5 7.0
Mar 9.9 17.6
Apr 7.8 26.0
May 4.8 31.5
Jun 3.3 35.2
Jul*) 2.5 38.3

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)