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Haiti: A tacit agreement to lower the US dollar

The US dollar is experiencing a decline in the Haitian market. In less than a week, it went from 165 to 150 gds or 153 in some other areas of the country, for the informal sector.

As for the reference rate of the Bank of the Republic of Haiti (BRH) for this Saturday, May 6, 2023, it is calculated at 146.18 gds. A slight drop from May 5 when it was displayed 146.480 gds.

The decline referred to refers to the informal sector. Because on Friday, May 5, the dollar was bought up to 148 gds. Currency traders are even afraid of the dollar.

And according to information received from personalities in the foreign exchange market, the dollar will continue to fall. And in some cases, companies that specialize in buying dollars are at a standstill. They do not buy arguing that the fall will continue.

« I don’t know who is behind the blow but everyone knows who leads the American dollar in the country. So once again, the masters of the dollar will strike », specifies this source adding that fear is in their camp in the face of the movement Bwale Kale.

It should be noted that this fall in the dollar comes at a time when the dollar is becoming scarce. Banks hardly give any.

The governor of the BRH, Jean Baden Dubois evokes a problem of lack of greenbacks linked to the security conditions of the country.

If in the economy, the scarcity of a product increases its value, in Haiti, the scarcity of the US dollar lowers its value.

So the invisible hand that rules the dollar has struck and will strike even harder.

However, the fall in the dollar does not work with the fall in the prices of basic necessities. So no need for the population to rejoice.

Planet Press

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