The Central Bank of Suriname (CBvS) has adjusted the maximum selling rate of the US dollar to SRD 21,000. The minimum selling rate is still set at SRD 14,290 per US dollar, the parent bank said in a statement. This adjustment will take effect tomorrow. The bank’s US dollar bandwidth has been temporarily revised in the run-up to the transition to fully flexible exchange rates.
The CBvS closely monitors developments in the currency market. Evaluation shows that exchange rates are used on the foreign exchange market that do not reflect a balanced exchange rate development. Panic reactions in the currency market have created blockage in transaction traffic.
In order to promote an efficient operation of transaction traffic on the currency market and to support the transition to more exchange rate flexibility on the currency market, the parent bank has decided, with due observance of Article 10 paragraph f of the 1956 Bank Act, the upper limit of the per 1 March 2021 to adjust minimum and maximum selling rates for the US dollar.
The exchange rates of the euro and other foreign currencies are determined by the general banks and exchange offices on the basis of the international exchange rates, taking into account the adjusted bandwidth for the selling rate of the US dollar and a rate margin of up to two percent when determining the purchase rate .