Buying and Selling in US dollar is once again permitted in Haiti

The Haitian government has just published a new Decree on Tuesday, October 9 2018 to allow the circulation of the U.S. dollar and the Haitian economy.

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

This new decree retracts the previous decree published back in March 2018 forcing the Haitian gourdes to be the only currency used for transactions in Haiti and preventing payments in U.S. dollars throughout the country.

Haitian Currency: GOUD vs DOLA There's a real Money Problem in Haiti!

The government decided to retract its previous decision because the Haitian gourdes has been losing value compared to the U.S. dollar since the introduction of the preview decree.


The Haitian Gourde vs The US Dollar

Back March 2018 when the new decree was passed, you need 64 gourdes for 1 U.S. dollar; nowadays, early October 2018 you need almost 73 gourdes for 1 U.S. dollar.

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

The accelerated decadence of the gourde against the US dollar made the country's economic situation unsustainable, Le Nouvelliste reported.

Let us hope things all brought back to normal after the government's new decision to reintroduce transaction in U.S. dollar on the Haitian market.

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