SRD officially depreciated

Price of USD: SRD 14.01- SRD 14.29

The Surinamese dollar has officially been depreciated! As of Tuesday one American dollar costs between SRD 14.01 and SRD 14.29. The new exchange rates will apply to all the sectors of the economy which means that the exchange rate at customs will also be adjusted. Only banks and money exchange offices are authorized to sell foreign currency. Maurice Roemer, governor of the Central Bank of Suriname, issued a stern warning by making it clear that the overthe-counter-trade in foreign currency will be punished.

Officials also made it clear that there is no devaluation. The governor clearly mentioned the term depreciation which means that the central bank has adjusted the exchange rates in accordance with the movements on the money market. Minor fluctuations have not been ruled out. Officials pointed out that the adjustment of the official exchange rates is not a guarantee that there will be anough access to hard cash. Governor Roemer also acknowledged this. “The availability of foreign currency is another issue. I am aware if the limitations.” There are no barriers for money transfers. The wiring of money can take place without any limits. The officials once again urged everybody to opt for digital transactions as often as possible. “The success of the exchange rate of about SRD 14 will depend on the morality of the people,” said the governor. The people can help to keep the exchange rates stable by refraining from the over-thecounter-trade of foreign currency at higher prices.