WILLEMSTAD - The Central Bank of Curaçao and Sint Maarten has officially declared the abbreviation for the Caribbean guilder as 'Cg'. This announcement was made during a live stream by the bank, providing essential details about the upcoming currency. The new code assigned to the guilder will be represented by the letters XCG. 

In line with previous announcements, the Caribbean guilder will retain the same value as its predecessor, the Antillean guilder. This means that one dollar will be equivalent to 1.79 guilders. As part of the currency transition, the existing 250 and 25 Antillean guilder banknotes will be replaced with 200 and 20 Caribbean guilder notes, respectively. 

To facilitate a smooth transition, a three-month co-circulation process will be implemented once the new guilder is introduced. This allows individuals to make cash payments using either the Antillean guilder or the Caribbean guilder during this transitional period. The goal is to ensure that change is predominantly provided in Caribbean guilders starting from the introduction of the new currency. 

The official launch of the Caribbean guilder is scheduled for the second half of 2024.