Currency Exchange Regime

A unified exchange rate at SRG 2200 per US-dollar existed until April 2002. In 2003, the official rate used for government transactions (oil and bauxite remittances and debt service) was SRG 2650 per U.S.-dollar. The ceiling of the non-official rate, which covers all other transactions, was SRG 2800 per U.S.-dollar.

On January 1st 2004 the Central Bank of Suriname introduced a new currency, the Surinamese dollar (SRD). The conversion rate was 1000 Surinamese guilders for one Surinamese dollar resulting in an exchange rate of SRD 2.70 – 2.77 for USD 1.-. The Central Bank rate used for government transactions is SRD 2.71 - 2.78 per U.S.-dollar. The free market rate, used by banks and cambios, varies between SRD. 2.75 – 2.80 per U.S.-dollar. The free market rate accounts for about 83% of all foreign exchange transactions; the official rate is used only for government debt service and tax payments by mining companies, or about 17% of all foreign exchange transactions.

Table 2.1.7 Average Selling Rates (SRD per USD)

Source: Central Bank of Suriname, DSB Bank NV