WILLEMSTAD/PHILIPSBURG – The introduction of the Caribbean guilder (XCG) is less than a week away. On Monday, March 31, 2025, Curaçao and Sint Maarten will embrace their new currency, and the Central Bank of Curaçao and Sint Maarten (CBCS) is confidently awaiting the transition from the Netherlands Antillean guilder to the Caribbean guilder.
Transition Period
It will take some time before everyone has enough Caribbean guilders to handle all cash transactions entirely in the new currency. Therefore, from March 31 to June 30, 2025 (the co-circulation period), cash payments can be made in both NAf and Caribbean guilders. Although businesses have been asked to provide a change in the Caribbean guilders, they may initially still give change in NAf because they might not yet have enough Caribbean guilders available.
Online, ATM Visa and Mastercard Debit- and Credit Transactions
Commercial banks play a key role in the transition, and there has been intensive collaboration to adapt the payment systems. It has been agreed that on March 31, 2025, the banks will close to the public at noon to facilitate the necessary preparations. Although the Caribbean guilder will become legal tender on that day, payments will transition to the new currency overnight from March 31 to April 1, 2025. Specifically, this means the system's currency code will change from ANG to XCG. Please keep in mind that from 8:00 p.m. to April 1, 8:00 a.m., the online banking system will not be fully available. During the ANG-to-XCG transition, ATMs may be temporarily unavailable for cash withdrawals. The duration of the disruption to online banking services and ATMs will vary between banks, depending on the migration work required for each bank. For logistical reasons, ATMs will be gradually replenished with Caribbean guilder banknotes over a maximum period of two weeks. As a result, the public could continue to receive NAf banknotes from ATMs on March 31, the day the Caribbean guilder enters into circulation, and in the days thereafter.
The public should also be aware that (debit and credit) Visa and Mastercard payments may be temporarily unavailable from around midnight on April 1, 2025, depending on the bank. This will vary from bank to bank.
NAf to XCG Exchange
On July 1, 2025, the NAf will cease to be legal tender, which means it will no longer be accepted for payment. However, from March 31, 2025, to March 31, 2055 (a period of 30 years), NAf can still be exchanged. From March 31, 2025, to March 31, 2026, the public will be able to exchange NAf cash for XCG at commercial banks, provided they have a bank account with the bank. As part of this process, commercial banks will encourage deposits into bank accounts. Commercial banks will automatically convert bank account balances from NAf to XCG.
Individuals without a bank account can exchange NAf at CBCS. For amounts up to NAf 2,500, no appointment is required for a one-time exchange. For additional exchanges and/or exchanges of amounts exceeding NAf 2,500, an appointment must be made at https://www.centralbank.cw/exchange-request. The public will be able to exchange NAf at the CBCS for another 29 years (until March 31, 2055).
The public is advised to use cash for payments as much as possible during the co-circulation period, as this will reduce the need to exchange at a bank.
Currency Code
All currencies have both a currency code and a currency symbol. The currency code is determined by the International Organization for Standardization (ISO). According to ISO regulations, the currency code for a country generally begins with the first two letters of the country code, followed by a letter identifying the currency. When a currency is shared by more than one country, as is the case with the Caribbean guilder, ISO rules dictate that the currency code begins with an “X,” followed by two letters identifying the currency. This is why the currency code for the Caribbean guilder is “XCG.”
However, the currency symbol is determined by the country. Article 3 of the Common Monetary System Regulations for Curaçao and Sint Maarten states that the currency symbol may be represented by the letters “CMg.” To better align the currency symbol with the currency code and to avoid confusion, the CBCS has proposed to the Ministers of Finance of both countries to use “Cg” instead. The CBCS is currently in consultation with the Legislation & Legal Affairs Departments of both countries to formally establish this abbreviation in law.
Information Campaign
The CBCS launched an information campaign some time ago to familiarize the public with the security features of the new currency and to prepare them for the transition. This campaign included sessions for the public and the business and industrial sectors (at the CBCS premises, on-site at businesses, and at community centers), online sessions, TV and radio interviews, and brochures, which were also distributed door to door. All information is also available on the My
Caribbean Guilder app (available in Dutch, Papiamentu, and English) and on the website
www.caribbean-guilder.com.
CBCS recommends consulting commercial banks for the latest updates on payment system availability. For additional questions, please contact the Corporate Communications Department at This email address is being protected from spambots. You need JavaScript enabled to view it..
Willemstad, March 25, 2025
CENTRALE BANK VAN CURAÇAO EN SINT MAARTEN
