2½ Gulden – Netherlands Antilles

In 1964, the currency situation in the Netherlands Antilles was defined by its unique political status and economic ties. As an autonomous country within the Kingdom of the Netherlands, the territory used the Netherlands Antillean guilder (ANG), which had been pegged to the US dollar at a fixed rate of 1.79 ANG = 1 USD since 1971. However, in 1964, this peg was different; the guilder was still linked to the Dutch guilder, reflecting the islands' colonial-era financial integration with the Netherlands. The central monetary authority was the Bank of the Netherlands Antilles, established in 1962, which managed the currency and foreign reserves.

The economy relied heavily on oil refining, particularly at the large Shell facility on Curaçao, which processed Venezuelan crude. This industry generated significant foreign exchange earnings, primarily in US dollars, and underpinned the currency's stability. The US dollar's widespread use in commerce, especially in tourism and the oil sector, created a de facto dual-currency environment alongside the official Antillean guilder. This dollar dependency was a key feature, influencing both daily transactions and the territory's broader financial policy.

This period was one of transition and stability. The fixed exchange rate regime provided predictability for international trade and investment, crucial for the oil-based economy. However, it also meant the islands' monetary policy was largely dictated by the need to maintain the peg, limiting independent tools to address local economic fluctuations. The currency arrangement of 1964 thus reflected a balance between European political ties, American economic influence, and the demands of a small, open island economy.