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Minister of Finance not in agreement with Central Bank exchange rates.

ardwellirion07062022PHILIPSBURG:--- Minister of Finance Ardwell Irion announced at the Council of Ministers press briefing that he has taken note of the articles on June 2nd and June 5th, 2022 on the use of the official exchange rate by businesses, and the Ministry is not in agreement with the suggestion for a business to unilaterally decide on the exchange rate between the Antillean Guilder and the dollar of the United States of America.

There is a law in place that regulates the exchange rate of the Caribbean guilder (which is now still the Antillean Guilder until the Caribbean Guilder is implemented) and the dollar of the United States of America. This law is called the Caribbean Guilder Exchange Rate Regulation.

Article 1 of the Caribbean Guilder Exchange Rate Regulation stipulates that the official parity of the Caribbean guilder is 1.790 per dollar of the United States of America.
Article 2, first paragraph, of the Caribbean Guilder Exchange Rate Regulation, stipulates, that the exchange rates for foreign exchange transactions in Curacao and Sint Maarten of the dollar of the United States of America for the acquisition or making available of foreign securities are determined by the Central Bank of Curaçao and Sint Maarten within a margin of fluctuation of 2¼ (two and a quarter) percent around.

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