CBCS Calls on Community to Boost Circulation of Change

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WILLEMSTAD/  PHILIPSBURG – The Centrale Bank van Curaçao en Sint Maarten (CBCS) has  observed that the circulation of smaller denominations of Netherlands Antilles coins (5, 10,  and 25 cents) is low. One contributing factor is the substantial amount of change kept in  containers (piggy banks). This situation is putting a strain on the CBCS’s coin supply.  Additionally, considering the substantial lead time required for coin production and the  upcoming introduction of the Caribbean Guilder along with entirely new coins and banknotes  by the end of 2024, any newly minted coins prior to that would have a quite limited period of  circulation. As such, the CBCS kindly urges the community to cooperate by utilizing any stored  coins for cash payments or by exchanging them.  

Using small change for payments  

Research on financial inclusion conducted by the CBCS has revealed that a large proportion of  households in Curaçao and Sint Maarten pay their bills and purchases in cash. Consequently, small  denominations play a crucial role in facilitating change during commercial transactions. This is  why we kindly urge individuals to make cash payments with exact change whenever feasible and/or to use coins for small transactions.  

Exchange at the CBCS  

Accumulated coins can be exchanged at the CBCS’s Cash Department free of charge and without  the need to deliver them in rolled form. In Curaçao, our office hours are, on workdays, from 8:00  to 11:30 am and from 1:30 to 3:00 pm. If you have a significant amount of coins, we recommend  scheduling an appointment via email to cashdepartment-CUR@centralbank.cw. 

On Sint Maarten, coin exchanges at the CBCS are by appointment only. To arrange an  appointment, please send an email to cashdepartment-SXM@centralbank.sx. 

The CBCS greatly appreciates your cooperation.