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