Introducing The NEW Caribbean guilder for Curacao and Sint Maarten on January 1 , 2024
WILLEMSTAD – If everything goes according to plan, Curacao and Sint Maarten will receive a new currency on January 1, 2024,
the Caribbean Guilder. A proposal to start the resumption of the introduction of the Caribbean Guilder has been approved by the Council of Ministers of both countries.
It is not recommended to keep the Netherlands Antillean guilder as a currency for longer.
These include the adequacy of the stock of coins and banknotes, the highly outdated specifications, high production costs and the increased risk of counterfeiting in view of current technological developments.
The Caribbean Guilder should have been introduced from 201 0, but the introduction has been postponed several times in the past twelve years. Reasons for this were the poor economic situation in recent years and the impact of the COVID-19 pandemic.
In the past six months, as a result of the easing of the COVID-19 measures, the economy has started to recover. The public finances and liquidity position of Curaqao have improved, according to the Central Bank and the ministries of finance of both countries,
the time is right to start preparations again, says the Ministry of Finance.
One on one
Like the Netherlands Antillean guilder, the Caribbean guilder is legally linked to the US dollar at a rate of 1 to 1.79. It is planned to maintain a one-to-one relationship with the Antillean guilder when the Caribbean guilder is introduced.
The one-to-one ratio is also laid down by law in the Regulation on the Communal Money System of Curaqao and
The coins used are: 5 guilders, 1 guilder, 50 cents, 25 cents, 10 cents, 5 cents and 1 cent. The banknotes are 200 guilders, 100 guilders, 50 guilders,
20 guilders and 1 0 guilders. The Central Bank of the two (is) countries will determine the design and printing of the banknotes, the weights, dimensions and quantity by agreement.
Categories: CBSC Central Bank Sint Maarten Curacao