Central Bank of Suriname

The Central Bank of Suriname (CBvS) opened its doors on the 1st of April 1957 and has ever since fulfilled an important role in the Surinamese economy. The CBvS is a unique financial institution and cannot be simply compared to the commercial banks. It functions as the monetary institution entrusted with the issuance into circulation of the Surinamese currency. The CBvS is also the custodian of the international reserves of the country and safeguards that sufficient gold and foreign currency reserves are available to meet Surinames external payment obligations. The CBvS sees to it that the stability of the domestic and external value of the Surinamese currency is safeguarded. Obviously, there was money in circulation in the Surinamese economy even before the CBvS was established in 1957. The first coin was used in 1679 and was called the Papegaaienmunt (the parrot coin). On the coin a parrot is portrayed sitting on a branch with either one, two or four leaves. One leave equalle...