The Surinamese dollar (
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual ...
code ''SRD'') has been the
currency
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins.
A more general ...
of
Suriname
Suriname (; srn, Sranankondre or ), officially the Republic of Suriname ( nl, Republiek Suriname , srn, Ripolik fu Sranan), is a country on the northeastern Atlantic coast of South America. It is bordered by the Atlantic Ocean to the nor ...
since 2004. It is divided into 100 ''
cent
Cent may refer to:
Currency
* Cent (currency), a one-hundredth subdivision of several units of currency
* Penny (Canadian coin), a Canadian coin removed from circulation in 2013
* 1 cent (Dutch coin), a Dutch coin minted between 1941 and 1944
* ...
''. The Surinamese dollar is normally abbreviated with the
dollar sign
The dollar sign, also known as peso sign, is a symbol consisting of a capital " S" crossed with one or two vertical strokes ($ or ), used to indicate the unit of various currencies around the world, including most currencies denominated "p ...
''$'', or alternatively ''Sr$'' to distinguish it from other
dollar
Dollar is the name of more than 20 currencies. They include the Australian dollar, Brunei dollar, Canadian dollar, Hong Kong dollar, Jamaican dollar, Liberian dollar, Namibian dollar, New Taiwan dollar, New Zealand dollar, Singapore dollar, ...
-denominated currencies. In spoken
Surinamese Dutch, it is widely referred to by its acronym SRD (), with "dollar" generally being understood as meaning the
US dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
.
History
The dollar replaced the
Surinamese guilder
The guilder ( nl, gulden; ISO 4217 code: ''SRG'') was the currency of Suriname until 2004, when it was replaced by the Surinamese dollar. It was divided into 100 cents. Until the 1940s, the plural in Dutch was ''cents'', with ''centen'' appearing ...
on 1 January 2004, with one dollar equal to 1,000 guilders. Initially, only coins were available, with banknotes delayed until mid-February, reportedly due to a problem at the printer, the
Canadian Bank Note Company
The Canadian Bank Note Company (CBNC) is a Canadian security printing company. It is best known for holding the contract with the Bank of Canada to supply it with Canada's banknotes since 1935. The company's other clients include private busin ...
.
The old coins denominated in cents (i.e. guilder) were declared to be worth their face value in the new cents, negating the necessity of producing new coins. Thus, for example, an old 25-cent coin, previously worth guilder, was now worth dollar (equivalent to 250 guilders). The rebasing of coins explicitly did not apply to commemorative coins.
Amendment 121 of
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual ...
gave the currency the code SRD replacing the Suriname guilder (SRG).
The people of Suriname often refer to their currency as SRD to differentiate it from the US dollar, which is also used to quote prices for electronic goods, household furnishings and appliances, and automobiles.
Unlike most currencies in the American continent, Surinamese dollar does not fluctuate freely according to the market value; its value is set by the central bank. As a result,
black market
A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is characterized by noncompliance with an institutional set of rules. If the rule defines the ...
exchange rates may differ significantly from the official rate.
;Historical official exchange rates of one U.S. dollar in Surinamese dollars
Coins
Coins in denominations of 1, 5, 10, 25, 100 and 250 cents from the previous currency are in circulation.
Banknotes
The Surinamese dollar replaced the Surinamese guilder on 1 January 2004, with one dollar equal to 1,000 guilders, prompting the issuance of notes denominated in the new currency. On the notes, the currency is expressed in the singular, as is the Dutch custom.
See also
*
Economy of Suriname
The economy of Suriname was largely dependent upon the exports of aluminium oxide and small amounts of aluminium produced from bauxite mined in the country. However, after the departure of Alcoa, the economy depended on the exports of crude oil ...
*
Central banks and currencies of the Caribbean This is a list of the central banks and currencies of the Caribbean.
There are a number of currencies serving multiple territories; the most widespread are the East Caribbean dollar (8 countries and territories), the United States dollar (5) and ...
*
Guyanese dollar
References
External links
Central Bank of SurinameBanknotes of Suriname
{{Portal bar, Caribbean, Money, Numismatics, South America, Suriname
Economy of Suriname
Currencies introduced in 2004
Currencies of South America
Currencies of the Caribbean