Suriname, a small South American country, is home to a melting-pot culture, vast swaths of tropical rainforest, and Dutch colonial architecture. The Suriname guilder (SRG) was the original currency of the South American nation of Suriname until it was replaced by the Suriname dollar (SRD) in 2004. Through this shift, 1,000 SRGs were replaced by every newly-issued Surinamese dollar. The cent coins that represent fractions of one guilder with denominations of one, five, 10, 25, 100, and 250 cents remained in use.
Currently, the currency of Suriname is the Suriname dollar or Surinamese dollar (SRD). It is represented by the symbol $ or Sr$ and is comprised of 100 cents. The coins of the currency are denominated in cents. The guilder, Suriname's previous currency, was too made up of 100 cents. In January 2004, the Suriname dollar was inaugurated as the official currency of the country after replacing the Suriname guilder. Old coins remained in use only simply assigned to be worth a hundredth of a dollar instead of a hundredth of a guilder. Coins denominating one, five, 10, 25, 100, and even 250 cents were circulated. For the initial month or so of the Suriname dollar, only coins were available in circulation because of mechanical problems with the printer issuing the new banknotes.
Suriname is a former Dutch colony that is located on the northeast coast of South America. It is the continent's smallest country both by population and geographically. However, it is a tad closer to the middle of the pack in the gross domestic product. It also boasts lower energy costs, natural resources, and a diverse agriculture industry that has been appealing to foreign investors. In addition, a GlobalCapital article that was issued in October 2017 has remarked that Suriname's economy had been hit by the end of the commodity boom more than several countries. Still, lots of investors find the country's recovery very impressive.
The Suriname government countered by floating the exchange rate and making spending cuts, driving to high inflation in 2016. But the article proclaimed that the "inevitable, if painful, result of the authorities making the right move." Floating the Surinamese dollar has led the currency to lose more than half its value from November 2015 to September 2016 versus the United States dollar.