The Central Bank of Suriname (CBvS) is the monetary authority of the country and acts as guardian of the financial sector; banker to the commercial banks; and cashier, banker, and financial advisor to the Government. As the monetary authority, its core objective is to preserve the purchasing power of the Surinamese Dollar through conduct of monetary policy and reserve accumulation. The CBvS is also charged with the supervision of the banking, credit union, insurance, and pension systems. The Central Bank of Suriname was established on April 1, 1957. Since then, it has fulfilled a key role in the financial and economic development of Suriname. Besides fulfilling its core roles, the CBvS has played a leading role as an incubator and reform facilitator, an educator and training ground for advanced work in economics and public sector and financial management. The Central Bank of Suriname is a principle and performance-driven organization that is also known as an excellent employer. The CBvS is currently spearheading a set of fundamental reforms of itself, the financial system of Suriname, and the public sector financial management, aimed at modernizing the financial system in its entirety and increasing the efficiency, stability, and integrity of financial management in general.

Vision
The Central Bank of Suriname is a modern, independent core financial institution, aiming to execute its mandate with the highest ethical standards, maintaining and strengthening its reputation and the respect it has earned at the national and international levels. With its strong norms and values, a highly qualified, performance driven, and motivated workforce, and an efficient and effective operational organization, the Central Bank of Suriname maintains and strengthens the regulatory framework and the monetary and exchange rate policy environment, while promoting the development of the financial sector in Suriname. It is a goal of the Central Bank of Suriname to develop, modernize, and promote good governance in the financial sector to enhance the economic potential of Suriname, its social development, and the welfare of future generations.

Mission
The Central Bank of Suriname is committed to the development and preservation of a vibrant, stable, and transparent financial and economic system in Suriname, with the aim of preserving the long-term sustainable economic development of the country. It is the mission of the Central Bank of Suriname to maintain the purchasing power of the currency by means of an effective, efficient, and transparent monetary policy; a strict exchange rate policy; and a prudent supervision of the economic and financial system, while being compliant with international laws and regulations.

Core Values

  1. Commitment
    We are committed to execute the vision and mission of the Central Bank of Suriname.
  2. Inclusion
    We believe in the involvement of all internal and external stakeholders in the execution of the vision and mission of the Central Bank of Suriname.
  3. Enthusiasm
    We believe in dedication to the highest quality standards in the delivery of added value and excellence in everything we do.
  4. Respect
    We believe in earning respect from and giving respect to all internal and external stakeholders for the way in which they contribute to the functioning of the Central Bank of Suriname.
  5. Accountability
    We believe in accountability to stakeholders (citizens, government, financial institutions, and our employees) about our performance, and by taking responsibility for our decisions, actions, and results.
  6. Integrity
    We believe in building productive and long-term relationships by being honest and open in our communication to all internal and external stakeholders.
  7. Transparency
    We believe in being transparent in everything we do as the Central bank of Suriname, so as to be able to, at any time, explain why we do what we do.


Organizational Structure

The Central Bank of Suriname is headed by the Governor of the Central Bank of Suriname, currently Governor Robert van Trikt, who is appointed by the President of Suriname. The Governor reports to a Supervisory Board. The Central Bank of Suriname is comprised of three directorates, each headed by a Director; and includes a number of departments relating to the core functions of a central bank. There are also a number of supporting departments, which include among others: Human Resources, Information and Communication Technology, Procurement, Internal Audit, and a Legal Department. The three directorates are:

  1. Directorate of Banking Operations
    • Managing the Surinamese currency in circulation.
    • Promoting and facilitating sound internal and external payments in Suriname.
    • Fulfilling the role of cashier, banker, and financial advisor to the Government.
    • Fulfilling the role of banker to the commercial banks.
    • Managing the international reserves.
  2. Directorate Monetary and Economic Affairs
    • Determine and execute monetary policy.
    • Determine and execute exchange rate policy and the regulation of cross-border payment streams.
    • Conducting financial and economic analysis and research.
    • Compiling and disseminating of key macroeconomic and sector statistics.
  3. Directorate of Prudential Supervision
    • Supervising the health of financial institutions.
    • Promoting the stability of the financial system.
    • Overseeing the implementation of best practices for business conduct, financial reporting, and governance of financial institutions.
    • Protecting the interests of depositors.


The total number of employees is over 400, of which about half occupy middle and higher staff positions. About twenty percent of all employees occupy a managerial position. The internal structure of the Central Bank of Suriname is as follows:

  1. Governor.
  2. Executive Management, which consists of the Governor and Directors.
  3. Senior Management, including Heads of Departments.
  4. Middle and higher staff.
  5. Clerical and technical staff.

Exchange RatesAugust 19th and until further notice

Currency Buying Selling
USD 7,396 7,520
EUR 8,167 8,339
GBP 8,936 9,160
ANG 4,112 4,228
AWG 4,112 4,228
BRL 1,826 1,890
TTD 1,076 1,110
BBD 3,667 3,760
XCD 2,712 2,783
PER 100 GYD 3,474 3,591

Gold CertificatesAugust 19th and until further notice

Coupon SRD
5 gram 3.661,90
10 gram 7.323,80
50 gram 36.619,00
100 gram 73.238,01
500 gram 366.190,04
1000 gram 732.380,09
Gold LME: USD 1.514,60 /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 Month-to-month Year-to-year
Jan 0.7 5.5
Feb -0.1 4.3
Mar 0.0 4.2
Apr 0.6 4.6
May 0.4  
Jun* 0.4  

*) Preliminary figures 

 

Exchange RatesAugust 19th until further notice

Currency Buying Selling
USD 7,396 7,520
EUR 8,167 8,339
GBP 8,936 9,160
ANG 4,112 4,228
AWG 4,112 4,228
BRL 1,826 1,890
TTD 1,076 1,110
BBD 3,667 3,760
XCD 2,712 2,783
PER 100 GYD 3,474 3,591
CNY 1,035 1,069

Gold CertificatesAugust 19th until further notice

Coupon SRD
5 gram 3.661,90
10 gram 7.323,80
50 gram 36.619,00
100 gram 73.238,01
500 gram 366.190,04
1000 gram 732.380,09
Gold LME: USD 1.514,60 /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 Month-to-month Year-to-year
Jan 0.7 5.5
Feb -0.1 4.3
Mar 0.0 4.2
Apr 0.6 4.6
May 0.4  
Jun* 0.4  

*) Preliminary figures 

 

Balance sheet