The long-awaited transition from the Netherlands Antillean guilder to the Caribbean guilder is finally happening at the end of March. Originally, this new joint currency for Curaçao and St. Maarten was supposed to be introduced on October 10, 2010, the date when the Netherlands Antilles ceased to exist, giving way to the new CAS and BES entities. Now, 15 years later, the switch is finally taking place.
As part of an informational and media campaign by the Central Bank of Curaçao and St. Maarten (CBCS), a full-page advertisement appeared in newspapers on January 29 to educate the public about the new currency. However, a notable mistake stood out in the ad: “Come learn about the new security features, and where, when, and how to exchange your Naf to Cg.”
The abbreviations “Naf” and “Cg” used in the ad are incorrect, according to the Regulation on the Common Currency System of Curaçao and St. Maarten, which officially took effect on October 10, 2010. According to Article 20, paragraph 3 of this regulation: “During the period between the enactment of this Regulation and the issuance of the Caribbean guilder, wherever the term ‘Caribbean guilder’ or ‘CMg’ is mentioned, it shall be read as ‘Netherlands Antillean guilder’ or ‘NAf’ instead.”
In accordance with this regulation, the CBCS advertisement should have used NAf and CMg, not Naf and Cg, as the correct abbreviations for the old and new currencies.
Additionally, there is a common misconception regarding the abbreviation ANG for the Netherlands Antillean guilder. While ANG is widely used internationally, it is not a legally recognised abbreviation. Its use is based on international agreements in payment systems, exchange rates and investment funds.
As for the new Caribbean guilder, its official international abbreviation in global payment systems will be XCG -not Cmg- once it is formally introduced.
Jeff Sybesma
Curaçao
