WILLEMSTAD - Last week, the official unveiling of the design for the Caribbean Guilder, the new currency set to circulate in Curaçao and Sint Maarten from March 31, 2025, took place. The Central Bank of Curaçao and Sint Maarten (CBCS) simultaneously presented the banknotes and coins in both countries.
Nancy Guttenberg-Van der Wal, head of corporate communications at CBCS, shared her excitement with Caribisch Netwerk about the event: “It’s truly amazing. We’ve worked towards this for five years, and while we’ve seen everything already, it’s a special experience to now share the design with the public. The reactions have been so enthusiastic that the team is proud of the result.”
The transition to the Caribbean Guilder has been a long-planned process. Following the dissolution of the Netherlands Antilles in 2010, it became clear that Curaçao and Sint Maarten needed a new currency.
The Antillean Guilder, still linked to a non-existent country, faces practical challenges. “We’ve been working with money from a country that no longer exists since 2010,” Guttenberg-Van der Wal explained. “If you try to exchange the Antillean Guilder somewhere, you often face difficulties because the Netherlands Antilles no longer exist.”
Additionally, the outdated security features of the Antillean Guilder play a role. Guttenberg-Van der Wal emphasized that the new Caribbean Guilder is equipped with modern security features to prevent fraud.
“Our current banknotes are outdated, and we’ve recently had issues with counterfeit bills. The new currency has modern authentication features that enhance the safety and trust in transactions.”
Unity
The design of the Caribbean Guilder has been carefully crafted to reflect the cultural and natural wealth of both Curaçao and Sint Maarten. Guttenberg-Van der Wal shared how the team chose the theme of marine life.
“We had to find something that both countries could identify with. We eventually chose the underwater world, a beautiful symbol without borders, representing the collaboration between the two countries within the monetary union.”
A marine biologist was brought in to accurately depict corals and other ocean elements in the design of the banknotes and coins.
“We ensured that every element precisely reflects its natural placement, and we shared this story behind the design with the public during the unveiling.”
Preparations
The CBCS announced that the Caribbean Guilder would be introduced on March 31, 2025. From that date, citizens will be able to exchange their Antillean Guilders at no cost at commercial banks. There will be a joint circulation period of three months, during which both currencies will be in use.
Guttenberg-Van der Wal also mentioned that the new coins and banknotes were produced with the utmost care in collaboration with international suppliers. “The coins are being minted in Canada, and the banknotes are being printed in Malta.”
This decision resulted from a public tender, where contracts were awarded to companies that met the required quality standards.
Global Perspective
Although the new currency will remain pegged to the US dollar at a fixed exchange rate of 1 XCG = 1.79 USD, the governments of Curaçao and Sint Maarten have deliberately chosen to retain their own currency.
Guttenberg-Van der Wal explained: “IMF research shows that having your own currency offers certain advantages, such as the ability to conduct monetary policy and act as a lender of last resort for banks facing temporary difficulties. These are key factors that we would lose if we switched to the US dollar.”
The transition to the Caribbean Guilder marks a new era for the economies of Curaçao and Sint Maarten. According to the CBCS, the new currency provides a safe and modern foundation for further economic development and stability.
As Guttenberg-Van der Wal put it: “We look to the future with confidence, with a currency that not only symbolizes our cultural richness but also contributes to a safe and stable economic climate.”