Institutional Setting

As of 2012 Suriname´s financial sector comprised: the Central Bank of Suriname (CBvS), 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.

Click here for the act

 

 

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 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 

 

WisselkoersenAugust 26 en tot nader order

Geldsoort Aankoop Verkoop
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

GoudcertificatenAugust 26 en tot nader order

Coupure 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

Inflatie

  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 

 

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