FinTech

Technological innovation is an important factor that will influence the financial sector even more in the coming years. FinTech (technology-driven innovation in financial services) is an unavoidable reality that will radically change the payment habits of consumers and the way the financial world is doing business.

 

This innovation implies that the supervisory task and the way in which the Central Bank of Suriname ("the Bank") implements its monetary policy must be adjusted. Technological innovation not only offers opportunities but can also have implications for the financial system. The Bank's policy is aimed at facilitating the positive contribution of technological innovation while at the same time mapping out and mitigating the potential risks on the financial system.

 

InnovationHub

To stimulate technological innovation within the financial sector, the Bank has created an InnovationHub. The purpose of the InnovationHub is to offer the market parties support with regard to questions about the applicable legislation and regulations concerning innovative financial products and services. The InnovationHub also offers the Bank the opportunity to invite market parties to present and explain their innovative financial product.

 

The InnovationHub is available for all parties that want to bring an innovative financial product or service to the market. This concerns both licensed parties (under the supervision of the Bank) and newcomers.

 

The Bank advises to submit the innovative financial product or service to the InnovationHub (This email address is being protected from spambots. You need JavaScript enabled to view it.) at an early stage, causing the Bank to timely provide the necessary information for example about the applicable legislation and regulations.

  

Regulatory Sandbox

Based on the Banking Act, the Bank has the general task of ensuring a sound and prudent financial system. Considering the various financial innovative developments, the situation may occur in which relevant legislation and regulations are lacking. In order not to stagnate these innovative developments on the one hand and to fulfill its general objective on the other, the Bank has introduced a Regulatory Sandbox.

 

The Regulatory Sandbox offers a company that wants to bring an innovative financial product or service to the market the opportunity to test its product in a controlled and safe environment before it is offered to the public. In addition, the Sandbox enables the Bank, in its character as supervisor, to fully understand, observe and determine whether this new service or product has potential benefits or risks for the financial system.

 

Additionally, it will be examined whether the new product or service can be brought under the current legislation and or regulations. If the product or service cannot be accommodated under the existing supervisory legislation, the Bank will draft conditions that the company must meet.

 

For further questions about the Regulatory Sandbox you can contact the Bank via This email address is being protected from spambots. You need JavaScript enabled to view it..

Exchange RatesMarch 09th and until further notice

Currency Buying Selling
USD 14,018 14,290
EUR 16,628 16,959
GBP 19,396 19,782
ANG 7,699 7,852
AWG 7,784 7,939
BRL 2,438 2,485
TTD 2,063 2,103
BBD 6,907 7,044
XCD 5,190 5,293
PER 100 GYD 6,657 6,790

Gold CertificatesMarch 09th and until further notice

Coupon SRD
5 gram 7.814,97
10 gram 15.629,94
50 gram 78.149,69
100 gram 156.299,39
500 gram 781.496,94
1000 gram 1562993,88
Gold LME: USD 1.701,00 /tr.oz.

Inflation

  Average End-of-period
2012 5.0 4.3
2013 1.9 0.6
2014 3.4 3.9
2015 6.9 25.1
2016 55.5 52.4
2017 22.0  9.2 
2018 6.8# 5.4 
2019 4.4#  4.2 
2020 34.9 60.8
     
2021 Month-to-month Year-to-year
Jan 2.6 63.8
Feb 1.3 61.9
Mar 2.1 50.4
Apr 3.5 44.4
May 4.2 43.6
Jun 10.8 54.0
Jul*) 5.7 58.9

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)

 

Weighted Average RatesSeptember 17 - 15:00h (Banknotes)

Currency Buying Selling
USD 21.348 21.518
EUR 23.632 23,829
GBP 29.460 30.043
ANG 11.730 11.962
AWG 11.860 12.095
BRL 4.054 4.134
TTD 3.152 3.215
BBD 10.524 10.732
XCD 7.907 8.063
PER 100 GYD 10.144 10.345
CNY 3.307 3.373

Gold CertificatesSeptember 17

Coupon SRD
5 gram 12.196,37
10 gram 24.392,74
50 gram 121.963,72
100 gram 243.927,43
500 gram 1.219.637,17
1000 gram 2.439.274,35
Gold LME: USD 1.756,90 /tr.oz.

Weighted Average Accepted
OMO Rate

Auction ID Auction Date Rate (%)
CBTD210915-1W 2021-09-15 15,0
CBTD210908-1W 2021-09-08 14,9
CBTD210901-01 2021-09-01 14,8
Balance sheet

Inflation

  Average End-of-period
2012 5.0 4.3
2013 1.9 0.6
2014 3.4 3.9
2015 6.9 25.1
2016 55.5 52.4
2017 22.0  9.2 
2018 6.8# 5.4 
2019 4.4#  4.2 
2020 34.9 60.8
     
2021 Month-to-month Year-to-year
Jan 2.6 63.8
Feb 1.3 61.9
Mar 2.1 50.4
Apr 3.5 44.4
May 4.2 43.6
Jun 10.8 54.0
Jul*) 5.7 58.9

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)