In a development for the Dutch Caribbean islands of Curaçao and St Maarten, a new joint currency is poised to make its debut later this year, over a decade after they attained autonomous country status within the Kingdom of the Netherlands.
This is according to a recent bank report.
A transition long awaited
The forthcoming currency, known as the Caribbean guilder, will replace the Netherlands-Antillean guilder.
This transition was set in motion by a regional constitutional reform in October 2010, which significantly altered the political landscape of Curaçao and St. Maarten.
Scheduled for the second half of 2024
According to an annual report published by the Central Bank of Curaçao and St Maarten late last year, the eagerly anticipated Caribbean guilder is slated to be introduced in the second half of 2024.
Enhanced security features
The new currency is expected to come equipped with advanced security features, promising a higher level of protection against counterfeiting and fraud. In a transition period following its introduction, the Caribbean guilder will coexist alongside the current currency for three months, facilitating a seamless transition for the islands’ residents.
Residents in both islands will be able to exchange the current Netherlands-Antillean guilder for the new currency for a period of 30 years at an equal rate.
