Suriname - Banking and securities
Since 1 April 1957, the Central Bank of Suriname has acted as the bank of issue. Other banks include the ABN-Amro (Dutch), De Surinaamsche Bank (majority-owned by the ABN-Amro), and Hakrinbank.
In 1998, the exchange rate separated into multiple rates, leading to a 40% currency devaluation in January 1999. According to the government, cocaine sold by Surinamese shippers was confiscated by Dutch authorities, causing a currency flow problem. The International Monetary Fund reports that in 2001, currency and demand deposits—an aggregate commonly known as M1—were equal to $181.1 million. In that same year, M2—an aggregate equal to M1 plus savings deposits, small time deposits, and money market mutual funds—was $263.5 million.