Governor Gillmore Hoefdraad Central bank of Suriname Headquarters Paramaribo | Website www.cbvs.sr Founded 1 April 1957 | |
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Established April 1, 1957 (1957-April-01) Currency Surinamese dollar
SRD (ISO 4217) | ||
Central bank of suriname
The Central Bank of Suriname (Dutch: Centrale Bank van Suriname) is Suriname’s highest monetary authority and the country’s governing body in monetary and economic affairs.
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The Central Bank’s tasks were legislated in the Bank Act of 1956. Like other central banks, it is the principal monetary authority of the country. Other tasks include the promotion of the value and stability of the currency of Suriname, the provision of money circulation, the safeguarding of private banking and credit union activities, together with balanced socio-economic development.
The Central Bank is headed by a Governor and divided into three directorates: Banking Operations, Monetary and Economic Affairs and Supervision.
History
After the start of Suriname’s political self-government from the Netherlands in 1954, changes were instigated to the country’s monetary system; on 1 April 1957 the Central bank of Suriname was established in Paramaribo and took over the issuing of currency.
Until 1957, De Surinaamsche Bank (DSB), which at that time was a subsidiary of the Dutch Nederlandsche Handel-Maatschappij and the largest commercial bank in Suriname, acted as default issuer of currency.