Surinamese dollar

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Surinamese dollar
Surinaamse dollar (in Dutch)
SRD Dollar.png
Banknote of a 20-Surinamese-dollar banknote.
ISO 4217
CodeSRD
Denominations
Subunit
1100cent
Pluraldollars
centcents
Symbol$
Banknotes5, 10, 20, 50, 100 dollars
Coins1, 5, 10, 25, 100, 250 ¢
Demographics
User(s) Suriname
Issuance
Central bankCentral Bank of Suriname
 Websitewww.cbvs.sr
Valuation
Inflation50.4% (March 2021)[1]

The Surinamese dollar (ISO 4217 code SRD) has been the currency of Suriname since 2004. It is divided into 100 cents. The Surinamese dollar is normally abbreviated with the dollar sign $, or alternatively Sr$ to distinguish it from other dollar-denominated currencies. In spoken Surinamese Dutch, it is widely referred to by its acronym SRD (Dutch: [ˌɛsɛrˈdeː]), with "dollar" generally being understood as meaning the US dollar.

History[edit]

The dollar replaced the Surinamese guilder on 1 January 2004, with one dollar equal to 1,000 guilders.[2] 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 old coins denominated in cents (i.e. 1100 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 14 guilder, was now worth 14 dollar (equivalent to 250 guilders). The rebasing of coins explicitly did not apply to commemorative coins.

Amendment 121 of ISO 4217 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.

Historical official exchange rates of one U.S. dollar in Surinamese dollars
Period Exchange rate
January 2005 - January 2011
2.70
January 2011 - November 2015
3.25
November 2015- April 2016
4
April 2016 - September 2020
7.38
September 2020 - June 2021
14.15
June 2021 - Today
21

Coins[edit]

Coins in denominations of 1, 5, 10, 25, 100 and 250 cents from the previous currency are in circulation.

Banknotes[edit]

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.[3]

Current SRD exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD

See also[edit]

References[edit]

  1. ^ "Surinam devalues its currency by 33%". eca-international. Retrieved 11 July 2021.
  2. ^ "WET van 31 oktober 2003, houdende de vernoeming en herleiding van bedragen, rechten en verplichtingen in de gulden tot hun nominaal gelijke waarde in de dollar" (PDF). De Nationale Assemblée van De Republiek Suriname (in Dutch). Archived from the original (PDF) on 28 November 2018. Retrieved 28 November 2018.
  3. ^ Linzmayer, Owen (2012). "Suriname". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.

External links[edit]

Surinamese dollar
Preceded by:
Surinamese guilder
Reason: inflation
Ratio: 1 dollar = 1,000 guilders
Currency of Suriname
1 January 2004 –
Succeeded by:
Current