Haiti currency depreciation, 60 Haitian Gourdes for a U.S Dollar

In spite of reassuring statements and intervention of the Haitian Central Bank, the Haitian Gourde kept sliding against U.S Dollar. Today, (December 17, 2015) US$ 1:00 is equivalent to 56.73 Haitian Gourde. The value of one country's currency depreciates mainly on its economic condition which is again vulnerable to domino effect or cumulative effect of several factors like economic fundamentals, political instability, foreign trade imbalance, etc. To understand the severity of the problem few practical examples would be good enough.

ADVERTISEMENT


Suppose, in 1995, a well-to-do Haitian family had a monthly income of 20,000 HTG. With the prevailing exchange rate of 1995, the family had an income of $1,142.85 in 1995, but in 2015, the same income of 20,000 HTG with the current exchange rate, would be much less, $352.53 only. Similarly, an amount of $1000,000 kept in a bank in 2010 would be presently reduced to $675,000 only. A reduction in one country's value of money is good for an economy which has more export than import, but Haiti heavily depends on import. Its import bill will be more expensive than ever.

Reply to this article

Read more: Gourde, Currency, Finance

Related Photos

Digicel TchoTcho revamped to become Mon Cash   Natcom introduces Lajan cash   Haitian gourde exchange rate soon to be 50 for one U.S. dollar   250th Anniversary of Port-Au-Prince and President Florvil Hyppolite   Jean-Claude Duvalier In Haitan Currency   Transportation system for Haitian currency   Haitian Currency With Toussaint L'Ouverture   Haiti Currency, Gourde And Dollar   Economy And Finance, Money And Currency  

« Silence of Haitian monetary authorities amid economic panic, alarming | Main | Eske ou konnen wòl Dediksyon, Ekzanpsyon ak Kredi jwe nan taks Ameriken? »

Return to Articles List

Leave a Reply

Name (required)

E-mail (required, will not be published)

Subject: Haiti currency depreciation, 60 Haitian Gourdes for a U.S Dollar edit

» »

Our objective is to share with you news and information about Haiti and the people of Haiti. Traditions, habits and the way we were  or  grew are alive in this site. We highly recommend that you Subscribe to our Newsletter and also share with us some of the things that are memorable and made us unique people.