What is the ANG (Netherlands Antilles Guilder)
The Netherlands Antilles Guilder (ANG) is a national currency which served the Netherland Antilles until the dissolution of the country in 2010. Also called the Dutch guilder, as of 2016, ANG is the currency for the island nations of Curaçao and Sint Maarten, formerly part of the Netherland Antilles. These islands are now constituent countries of the Kingdom of the Netherlands.
BREAKING DOWN ANG (Netherlands Antilles Guilder)
First introduced in the 1700s, the Netherlands Antilles Guilder (ANG) acted as the currency for the Netherland Antilles. Several Caribbean islands made up the Netherland Antilles which was in existence between 1954 and 2010. These territories are still part of the Kingdom of the Netherlands. However, their legal status changed. Between 1799 and 1828 the currency changed to the reaal until its reintroduction in 1929.
The end of colonial rule came to the islands at the end of the Second World War, and the area received the name Netherlands Antilles at this time. A succession of constitutions and reforms gave them additional autonomy until 1954 when they accepted an equal partnership with the Kingdom of the Netherlands. Dissolution of the Antilles began with the secession of Aruba in 1986. Through the 2000s the five islands held votes to determine if they stayed part of the Netherland kingdom. The results saw the islands of Bonaire, Sint Eustatius, and Saba remain in the kingdom, and Curaçao and Sint Maarten, like Aruba, received self-governance.
Replacement of the Antilles Guilder as Currency
The U.S. dollar (USD) replaced the guilder as the national currency in Bonaire, Sint Eustatius, and Saba, while Curaçao and Sint Maarten continue to use Antilles Guilder (ANG). The former Netherlands Antilles islands of Curaçao and Sint Maarten plan to replace the Antillean guilder with the new Caribbean guilder ( CMg), with pegging to the U.S. dollar. However, before replacement, they must first resolve issues involving the joint central bank of Curaçao and Sint Maarten. Curaçao wants a Curaçao central bank and has been engaged in a process with Sint Maarten to realize this goal. However, their governments have not prioritized the creation of the bank, and the process has stalled.
If Curaçao and Sint Maarten adopt the Caribbean guilder to replace the ANG, the currency would no longer circulate.
Valuation of the ANG
During 1940, the ANG pegged itself to the US dollar (USD) at a rate of 1.88585 guilders to USD 1. This pegging broke the link to the Dutch currency. Through regular readjustment of the pegging, the ANG recently stood at 1.79 in May 2018.
The Netherlands Antilles guilder is also sometimes called the Antillean guilder. The ANG uses a decimal system-based currency subdivided into 100 cents, coins circulated in denominations of 1, 5, 10, 25 and 50 cents. Banknotes are in denominations of 5, 10, 25, 50 and 100 guilders, all of which feature a unique bird of the region on one side of the bill. Its symbol, ƒ, is often used interchangeably with the Antillean guilder abbreviated as NAƒ.