Caribbean guilder

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Caribbean guilder
Caribische gulden  (Dutch)
ISO 4217 code CMG (proposed)[1]
Central bank Central Bank of Curaçao and Sint Maarten
 Website www.centralbank.an
User(s) proposed in
 Curaçao
 Sint Maarten
Pegged with U.S. dollar = ƒ1.79
Symbol CMg,[2] CMƒ, CMf, ƒ, or f[verification needed]
Plural guilders
Coins 1, 5, 10, 25, 50 cents;
1, 5 guilder[2]
Banknotes
 Freq. used 10, 20, 50, 100, 200 guilder[2]

The Caribbean guilder (Dutch: Caribische gulden) is the proposed currency of the Caribbean islands of Curaçao and Sint Maarten, which formed after the dissolution of the Netherlands Antilles in October 2010. The Netherlands Antillean guilder is expected to continue to circulate until at least 2014[needs update] as the currency was not finalised in time for the islands' separate autonomous status.[3][4] The currency will be abbreviated CMg (for Curacao, Sint Maarten guilder) and will be pegged to the United States dollar at the same exchange rate as the Netherlands Antillean Guilder (1 USD = 1.79 NAg = 1.79 CMg).[1] As the BES islands (Bonaire, Sint Eustatius and Saba) adopted the U.S. dollar directly on 1 January 2011, the introduction of he CMg will mean the end of the circulation of the Netherlands Antillean guilder.

Organization[edit]

The launch of the currency was delayed until at least 2014[needs update][5] and will be governed by the law on the monetary system of Curaçao and Sint Maarten (Dutch: Geldstelsel Curaçao en Sint Maarten). The currency will be issued by the Central Bank of Curaçao and Sint Maarten (the successor of the Bank of the Netherlands Antilles) with a chairman chosen by both countries. The two countries will also appoint six further members of the Supervisory Board of Directors. The currency will be phased in over three months.[2][4] The 2.5 guilder coin and the 25 guilder notes present in the Netherlands Antillean guilder series will not be issued, but will be replaced by 20-based denominations.[2]

External links[edit]

References[edit]

  1. ^ a b "Nieuwe Caribische gulden wordt CMg" (in Dutch). PersbureauCuracao.com. 21 October 2010. Retrieved 22 October 2010. 
  2. ^ a b c d e "FAQ". Central Bank of Curaçao and Sint Maarten. Retrieved 28 February 2011. 
  3. ^ "Caribische gulden pas in 2012 | Versgeperst.com Curacao". Versgeperst.com. 2010-11-30. 
  4. ^ a b "‘Caribbean guilder’ will not be ready by 10-10-10". The Daily Herald. 2010-07-26. 
  5. ^ "Antilliaanse gulden wordt aangehouden in 2012". dushi-curacao.info (in Dutch). 14 September 2011. Retrieved 28 September 2011.