The new Governor of the Central Bank, Mr Van Trikt, immediately after his arrival at the Centrale Bank van Suriname, together with his team, held intensive consultations with the general banks, the exchange offices and other stakeholders to discuss solution models for achieving standardization of transactions on the foreign exchange market. As you know, for some time the phenomenon has occurred on the foreign exchange market that there is an increased demand for banknotes in US dollars. This increased demand was prompted by uncertain market sentiments and the stagnation in the supply of banknotes in US dollars. All stakeholders have pledged their cooperation to support stability on the foreign exchange market. After all, all Surinamese people - especially the ordinary people will be losers in the event of a monetary appreciation. 

According to the Central Bank, recent developments in the foreign exchange market are not a reflection of the country's economic performance, which can be described as reasonably good. A reasonable positive economic growth between 2 and 3 percent is projected for the coming years by the International Monetary Fund and our Planning Bureau. The inflation projection of the Central Bank for 2019 is around 6 percent, assuming that the exchange market remains stable. The international reserves have reached a level around US $ 590 million; this is enough to cover the import of goods and services for 3.3 months. If we exclude imports from the large mining companies because they do not use the national foreign exchange reserves, this coverage will increase around 5 months. The monetary coverage is around 67 percent; much higher than the legally prescribed minimum of 50 percent by the Banking Act. 

Against the backdrop of reasonable economic indicators and the planned collective action by the Central Bank and the stakeholders, it urges the community not to put unnecessary pressure on the foreign exchange market. It stresses that sufficient coverage exists for the Surinamese currency and ample foreign currency available for the non-cash transfers in fulfilment of the obligations abroad. In addition, the Central Bank will also manage liquidity much more active, so that peace in the foreign exchange market is achieved. Payment systems will also be modernized and made more flexible to minimize disruptions. Finally, both SRD as foreign currency assets of citizens are safe at the commercial banks, the Central Bank will see to that.

Centrale Bank van Suriname,

Paramaribo March 8, 2019

 

Exchange RatesAugust 26th and until further notice

Currency Buying Selling
USD 7,396 7,520
EUR 8,159 8,331
GBP 8,984 9,209
ANG 4,112 4,228
AWG 4,112 4,228
BRL 1,777 1,840
TTD 1,077 1,111
BBD 3,667 3,760
XCD 2,712 2,783
PER 100 GYD 3,482 3,599

Gold CertificatesAugust 26th and until further notice

Coupon SRD
5 gram 3.640,62
10 gram 7.281,25
50 gram 36.406,24
100 gram 72.812,49
500 gram 364.062,44
1000 gram 728.124,87
Gold LME: USD 1.505,80 / 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 26th until further notice

Currency Buying Selling
USD 7,396 7,520
EUR 8,159 8,331
GBP 8,984 9,209
ANG 4,112 4,228
AWG 4,112 4,228
BRL 1,777 1,840
TTD 1,077 1,111
BBD 3,667 3,760
XCD 2,712 2,783
PER 100 GYD 3,482 3,599
CNY 1,028 1,061

Gold CertificatesAugust 26th until further notice

Coupon SRD
5 gram 3.640,62
10 gram 7.281,25
50 gram 36.406,24
100 gram 72.812,49
500 gram 364.062,44
1000 gram 728.124,87
Gold LME: USD 1.505,80 / 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