Businesses experiencing
shortage of small change
PHILIPSBURG--As the Christmas season is high season, it naturally brings about an increase in spending amongst local and visiting consumers. It has been reported that several businesses have been experiencing a shortage in cash as a result.
In an invited comment from two of the island’s bigger supermarkets, Le Grand Marché stated that it is experiencing a shortage in small change such as NAf. 10, NAf. 5, US quarters, five cents and ten cents. Management explained that alternative change is being bought from local casinos and contacts in Puerto Rico.
Purchasing Manager of LIDO Supermarket commented that it is experiencing problems in providing its consumers with particularly euro change and occasionally guilder change.
The Daily Herald spoke with Managing Director of Windward Island Bank (WIB) Jan Beaujon who explained on the angle of banks as cash providers that the issue of change provision was not being experienced at WIB. However, he explained that sometimes in the high season such as currently there is often a shortage of US dollars, because it is expensive to buy. However, in regard to Antillean guilders this should not be an issue, as it can be bought from the Central Bank. Jan Beaujon nonetheless stated that business at the bank was indeed very busy.
FirstCaribbean International Bank Country Head Derek Downes was also contacted for an invited comment in which he stated that the situation may be a reality; however, provision of small change was not an issue at the bank.
The fact that many yacht owners and their families visit the island during the holiday season and withdraw large sums of cash for consumption during their stay may be attributed to the shortage of cash being experienced at the local businesses.
