In a significant development, the Dutch Caribbean islands of Curacao and St. Maarten are gearing up to unveil a new joint currency more than ten years after attaining autonomy within the Kingdom of the Netherlands. This update comes from a recent report by a reputable bank.

As part of a regional constitutional reform in October 2010 that altered the political status of Curacao and St. Maarten, the Caribbean guilder is slated to replace the Netherlands-Antillean guilder. The Central Bank of Curacao and St. Maarten, in its annual report released late last year, outlined plans for the introduction of the new currency in the second half of 2024.

The upcoming Caribbean guilder is expected to feature enhanced security measures and will coexist with the current currency for a three-month transition period following its launch, as stated by the bank.

Residents on both islands will have the opportunity to exchange their existing Netherlands-Antillean guilder for the new currency at a parity rate, and this exchange option will remain available for a substantial period of 30 years.