18th of March 2019 ANNOUNCEMENT- CENTRAL BANK FACILITATES PAYMENTS FOR THE PUBLIC

The Centrale Bank van Suriname, in consultation with the commercial banks, has made arrangements that should result in the preservation and increase of confidence in the Surinamese dollar. The managements of the banks have promised their support to the policy actions of the Central Bank.

One of the arrangements is that account holders and clients no longer have to pay any transaction costs on cash deposits and withdrawals in Surinamese dollars. On the other hand, the Central Bank stopped the costs of SRD transactions that it charged the banks for its services. 

Earlier the public was obliged to prove the origin of the cash with deposits from USD 3,000 and EUR 3,000, with underlying documents. Deposits in foreign currencies are stimulated by the measure that from now on amounts of USD 5,000 and Euro 5,000 must be given a declaration of origin. Furthermore, the commercial banks have been strongly encouraged to minimize transaction costs for cash deposits in euros. 

Suriname is known as a so-called "cash economy", because, compared to other countries, payment for goods and services still occur in cash most of the time but to keep up with international developments and obligations, changes must be made to our payment system. The Central Bank strongly urges the public to make use of the various options of cashless payments, which commercial banks offer, as much as possible.  

Central Bank of Suriname 

March 18, 2019

 

Exchange RatesJanuary 28th and until further notice

Currency Buying Selling
USD 7,396 7,520
EUR 8,130 8,301
GBP 9,598 9,838
ANG 4,112 4,228
AWG 4,112 4,228
BRL 1,723 1,784
TTD 1,078 1,112
BBD 3,667 3,760
XCD 2,712 2,783
PER 100 GYD 3,487 3,605

Gold CertificatesJanuary 28th and until further notice

Coupon SRD
5 gram 3.828,48
10 gram 7.656,96
50 gram 38.284,82
100 gram 76.569,65
500 gram 382.848,23
1000 gram 765.696,47
Gold LME: USD 1.583,50 /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  
Jul 0.2 4.3
Aug 0.4 4.0
Sep 0.5 4.0
Oct 0.6 4.3
Nov*) 0.2 4.3

*) Preliminary figures 

 

Exchange RatesJanuary 28th until further notice

Currency Buying Selling
USD 7,396 7,520
EUR 8,130 8,301
GBP 9,598 9,838
ANG 4,112 4,228
AWG 4,112 4,228
BRL 1,723 1,784
TTD 1,078 1,112
BBD 3,667 3,760
XCD 2,712 2,783
PER 100 GYD 3,487 3,605
CNY 1,050 1,084

Gold CertificatesJanuary 28th until further notice

Coupon SRD
5 gram 3.828,48
10 gram 7.656,96
50 gram 38.284,82
100 gram 76.569,65
500 gram 382.848,23
1000 gram 765.696,47
Gold LME: USD 1.583,50 /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  
Jul 0.2 4.3
Aug 0.4 4.0
Sep 0.5 4.0
Oct 0.6 4.3
Nov*) 0.2 4.3

*) Preliminary figures 

 

Balance sheet