72 Gourdes for 1 U.S. Dollar in Haiti, record low for the Haitian currency compared to the Dollar

The Haitian currency has hit a record low compared the U.S. Dollar these days... As of Saturday, Oct 13 2018, you need 72.50 gourdes for one U.S. dollar in Hinche, Haiti.

Currency: Haitian Gourde, US Dollar, Domincan Peso
Currency: Haitian Gourde, US Dollar, Domincan Peso

According to Le Nouvelliste, this is the first time the Haitian gourde is so inferior to the US currency. The worst is that the authorities seem overwhelmed by the events, the newspaper said.

One can understand why this is happening.

Les produits de première nécessité

Haiti imports most of its staple products (what Haitians call produits de première nécessité) from foreign countries like the United States and the neighboring Dominican Republic. In order to buy those staple products, Haitians must first exchange the Haitian currency (gourde) for these other currencies (i.e. the U.S. Dollar / the Dominican Peso).

Question: What causes the Haitian currency to depreciate so much in value?

Did you know? Dominican wholesalers selling products to Haitians at the border prefer to sell in U.S. Dollars instead of their native peso. This is another factor that is putting more stress on the Haitian gourde compared to the U.S. Dollar.

80 percent of all U.S. dollars exchanged in Hinche Haiti goes to the Dominican Republic

The article on Le Nouvelliste talks about the Haitian government injecting millions of U.S. dollars into the market as a fix. My opinion, NOTHING will fix this problem until Haiti begins to manufacture the products haitians consume everyday.

Can you believe this? Rice, toothpaste, tomato paste, evaporated milk, cheap rum, butter, spaghetti, macaroni, ketchup, cooking oil, beauty products, paper products, and everything else Haitians use everyday of their lives is imported. Yes, even if it has some funky Haitian name, it is manufactured elsewhere and imported for consumption in Haiti

What do you think about that?

Reply to this article  (5)

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All Comments (5)

Marchaendel says...

A titre d'infos...

Sur le gouvernement de Salnave il fallait près de 1000 gdes pour un dollar americain

M pa d'il bon men se pa mesye sa yo selman ki konn istwa politik peyi a.

Le pays fut en guerre par l'administration.

Lè sa kob pa nou an te gon ti sur Nom "Zorey

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Evens says...

Lè Moise Jn Charles te konn di sa nou pat bay vale, nou wè sa konye

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Jhonson says...

Mezanmi sepa PHTK ki monte lajan Ameriken an non. Menm la Santo Domingo li monte tou

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Audlain says...

PHTK ki fè dola a monte konsa baz.

Ayiti pa produit anyen bro pou l voye vann ak lot peyi. Chak jou se kraze brize youn kont lot, koman peyi an pral avanse la

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Chelot says...

Ou pa bezwen mande kot peyi sa pwale se ou menm kap bay manti chak jou pou neg PHTK

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