When Aruba obtained its Status Aparte within the Kingdom of the Netherlands in 1986, the florin, which is pegged to the U.S. dollar at $1.00 = Afl. 1.79, became the official currency of the island. The Centrale Bank van Aruba (CBA) was entrusted with the responsibility for the issuance of the florin banknotes pursuant to the Central Bank Ordinance, section 7. Furthermore, the Centrale Bank van Aruba issues coins on behalf of the government of Aruba. Confidence in the banknotes is very important given the status of the florin as the legal tender of Aruba, and its functions as medium of exchange, unit of account, and store of value. In this regard, the CBA must ensure that the banknotes it brings into circulation are of excellent quality and meet high security standards.
The first coin series was struck at ‘s Rijks Munt (now referred to as Koninklijke Nederlandse Munt) in Utrecht, The Netherlands, displaying the year 1986. The coin series consisted of denominations of 5, 10, 25, 50 cents, and 1 and 2½ florins. The coins were nickel-bounded steel. All the coins were round, except for the 50-cent piece which was square. The denominations, sizes, and compositions are yearly struck and put into circulation. On December 5, 1995 the CBA issued a 5-florin coin to replace the 5-florin banknote. The coin was square and was made of nickel-plated steel. On September 1, 2005, the CBA issued a round 5-florin aluminium bronze coin to replace the 5-florin square coin.
For more information feel free to contact us at: Cash-VaultDept@cbaruba.org
