Institutional Setting

As of 2012 Suriname´s financial sector comprised: the Central Bank of Suriname (CBoS), nine commercial banks (including subsidiaries), investment and finance companies, savings and credit unions, the National Development Bank, insurance companies, pension funds, provident funds, the stock exchange, foreign exchange bureaus, and money transfer houses.

Central Bank of Suriname

The CBvS is Suriname´s monetary authority and the country's governing body in monetary and economic affairs. This Act also charges the CBvS with the prime objective of promoting the value and stability of the currency of Suriname.

The Bank Act, moreover, establishes the CBvS as the supervisor of the banking and credit system, a task that was expanded by amendment of article 9 in 2005, to explicitly include the pension funds, insurance companies, foreign exchange houses and money transfer companies.

Depository corporations

Banks are special financial institutions because they accept checking and savings deposits from the general public. They also provide lending to the private sector. There are currently nine banks, with four being majority-owned state banks and one a subsidiary of a foreign bank. Total assets of the banks equal about 77% of total assets of the financial system, (excluding the CBoS).



The main changes in the structure of the banking system are summarized in the table below.

Commercial Banks Operating in Suriname
Jan 1957 – Mar 1957 3 Surinaamsche Bank, Vervuurts Bank, and Surinaamse Volkscredietbank
Apr 1957 – Mar 1972 4 + Hollandsche Bank-Unie
Apr 1972 – Sep 1976 5 + Landbouwbank
Oct 1976 – Sep 1997 6 + Surinaamse Postspaarbank
Oct 1997 – Aug 2005 7 + Finabank
Sep 2005 – May 2010 8 + Surichange Bank
Jun 2010 – to date 9 + Coöperatieve Spaar- en Kredietbank Godo G.A.


Other financial corporations

Other financial institutions in Suriname comprise: five investment and finance companies, 28 savings and credit unions, one savings fund, the National Development Bank, 12 insurance companies, 34 pension funds, five provident funds, the stock exchange, 25 foreign exchange bureaus, and six money transfer houses.
Total assets of these financial institutions equal about one-fourth of total bank assets (excluding the CBoS).

Exchange RatesMarch 09th and until further notice

Currency Buying Selling
USD 14,018 14,290
EUR 16,628 16,959
GBP 19,396 19,782
ANG 7,699 7,852
AWG 7,784 7,939
BRL 2,438 2,485
TTD 2,063 2,103
BBD 6,907 7,044
XCD 5,190 5,293
PER 100 GYD 6,657 6,790

Gold CertificatesMarch 09th and until further notice

Coupon SRD
5 gram 7.814,97
10 gram 15.629,94
50 gram 78.149,69
100 gram 156.299,39
500 gram 781.496,94
1000 gram 1562993,88
Gold LME: USD 1.701,00 /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 34.9 60.8
     
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 38.2
Aug 1.7 40.0
Sep 4.2 45.1
Oct 7.1 54.4
Nov 1.5 56.3
Dec 3.0 60.8
     
2021 Month-to-month Year-to-year
Jan 2.6 63.8
Feb 1.3 61.9
Mar 2.1 50.4
Apr 3.5 44.4
May* 4.3 43.6

*) Preliminary figures

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

 

Weighted Average RatesJuly 27 - 15:00h (Banknotes)

Currency Buying Selling
USD 21.229 21.334
EUR 23.692 23,810
GBP 29.322 29.903
ANG 11.664 11.895
AWG 11.794 12.027
BRL 4.091 4.172
TTD 3.122 3.184
BBD 10.465 10.672
XCD 7.863 8.018
PER 100 GYD 10.087 10.287
CNY 3.265 3.329

Gold CertificatesJuly 27

Coupon SRD
5 gram 12.371,04
10 gram 24.742,08
50 gram 123.710,39
100 gram 247.420,79
500 gram 1.237.103,93
1000 gram 2.474.207,87
Gold LME: USD 1.799,90 /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 34.9 60.8
     
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 38.2
Aug 1.7 40.0
Sep 4.2 45.1
Oct 7.1 54.4
Nov 1.5 56.3
Dec 3.0 60.8
     
2021 Month-to-month Year-to-year
Jan 2.6 63.8
Feb 1.3 61.9
Mar 2.1 50.4
Apr 3.5 44.4
May* 4.3 43.6

*) Preliminary figures

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

 

Balance sheet