At a glance
- ISO 4217 code
- SRD
- Numeric code
- 740
- Symbol
- $ (also SRD)
- Subunit
- Cent (1 Dollar = 100 Cents)
- Status
- Active
- Issuing authority
- Central Bank of Suriname (Centrale Bank van Suriname)
- Jurisdiction
- Republic of Suriname
More currencies: Active · Ancient & Historical · Demonetized
Overview
The Surinamese Dollar is the official currency of Suriname. It is issued and managed by the Central Bank of Suriname. The Dollar floats on foreign exchange markets and serves as the currency for a South American nation, a former Dutch colony, characterized by multicultural diversity, political volatility, economic instability, and natural resource dependence.
Etymology & History
The word "Dollar" derives from the Dutch "daalder." Suriname, as a Dutch colony, maintained a guilder-based system until independence. The Surinamese Dollar was introduced in 2004, replacing the Surinamese Guilder at a 1:1,000 redenomination ratio to address hyperinflation. The currency symbolized post-independence economic reform and monetary restructuring.
Suriname's monetary history includes Dutch colonial guilders, the independent Surinamese Guilder (1975–2004), and the modern Surinamese Dollar (2004–present).
Timeline of Key Events
| Year | Event |
|---|---|
| 1975 | Independence from Netherlands; Surinamese Guilder introduced; currency independence |
| 1980–1992 | Military coup; civil war; currency instability; economic mismanagement |
| 2001 | Hyperinflation crisis; currency collapse; guilder depreciation accelerates |
| 2004 | Surinamese Dollar introduced; 1,000:1 redenomination; hyperinflation addressed |
| 2022–present | Currency pressure; inflation resurgence; economic instability returns |
Current Denominations
Coins in circulation: 1, 5, 10, 25 Cents; 1 Dollar
Banknotes in circulation: 5, 10, 20, 50, 100 Dollars
Withdrawn: Surinamese Guilder (2004); pre-redenomination currency completely replaced
Exchange Rate Regime
Free float with Central Bank intervention during volatility; post-redenomination stability with recent pressures; managed flexibility.
Convertibility
- Current account: Fully convertible
- Capital account: Substantially convertible; financial sector liberalization
Monetary Policy Framework
Central Bank targets inflation and currency stability; inflation-targeting framework with institutional capacity issues; credibility challenges post-crisis.
Notable Characteristics
- Multicultural diversity: Indian, Creole, Javanese, Maroon, indigenous populations; diverse heritage; cultural synthesis; social stability
- Former Dutch colony: 350+ years Dutch rule; Dutch language; European cultural influence; colonial legacy governance
- Military coup legacy: 1980 military coup; 1980–1992 civil war; authoritarian period; democratic transition (1992); trauma aftermath
- Rainforest nation: Amazon rainforest coverage (80%); biodiversity hotspot; indigenous territories; environmental preservation focus
- Political volatility: Electoral politics; coalition governments; power-sharing arrangements; governance instability; democratic backsliding concerns
- Natural resources: Gold mining dominance; bauxite reserves; timber; oil exploration potential; resource curse dynamics
- Guyana border dispute: territorial claims with Guyana; Essequibo region contested; international arbitration (2023) unfavorable; geopolitical tension
- Chinese investment: Belt and Road projects; infrastructure development; loan dependency; debt sustainability concerns
- Remittance dependency: Significant diaspora (Netherlands, USA, Caribbean); family income transfers; currency stabilizer; emigration pattern
- Economic instability: Boom-bust cycles; currency crises; inflation volatility; external debt burden; macro instability endemic