Business

Over the years, I've watch the Haiti currency plummet from it's original face value of 5 gourdes for 1 U.S. dollar to over 160 gourdes for one U.S. dollar recently. Why is that?

This shift in the currency exchange rates has significant implications for Haiti's economy, trade, and overall financial stability.

My Haitian father recalls 518 gourdes for 100 dollars US back in 1988

One of the primary reasons for the devaluation of the Haitian dollar is its peg to the US dollar.

Read more →  

The number one reason Americans save money is not for college, it is not for their retirement, and it is not to buy a home. The number one reason Americans save money is to go on vacation.

Yep... A recent survey from SunTrust Bank revealed that travel, not emergencies, as Americans' top reason to save money. 45 percent of Americans save money to travel. They want to see the world.

Read more →  

There's a big problem happening in Haiti right now. People have no idea how much the going rate is for a US dollar. When you send money transfers in Haiti right now people receive it at about 135 gourdes for 1 US dollar. In the streets the US dollar is worth more and it fluctuates everyday.

It seems that everyone is setting their own rates when buying and selling the US dollar in Haiti as we speak.

Read more →  

An emerging market is the new term used to describe the markets of less developed countries as they were known back in the 1970s. Is Haiti an emerging market? We have the answer for you.

An emerging market is a country that has some characteristics of a developed market, but does not satisfy standards to be termed a developed market.

In other words, your country is an emerging market if it is in a transitional phase between developing and developed status.

Read more →  

Haitians have long feared that one day you will need 100 gourdes for one U.S. dollar. Back in April 2020, Haitian newspaper Le Nouveliste reported that the fear became a reality. As of early April 2020 you needed 100 Haitian gourdes for one U.S. dollar. It's gotten worse since.

The Haitian currency rose as high 160 gourdes for one US dollar in early 2023.

Also read: 75 Gourdes for One US Dollar, When did it Happen?

Read more →  

How bad is unemployment in Haiti? It is worse than you think. Many people in Haiti pretend to have a business but they are only fooling themselves Read this...

I was reading an article recently on an international news website which stated that two-thirds of adults living in Haiti are either unemployed or underemployed.

The "unemployed" part is easy to understand. They are not working, they don't have a job, they are not earning any money. All grown up, they are waiting for somebody else to feed them everyday.

Read more →  

The value of the Haitian currency is getting closer and closer to 100 gourdes for one US dollar. On Monday it was being exchanged at 95 gourdes for one US dollar.

This depreciation of the Haitian currency is worrying a lot of people in the country as things get more and more expensive because we are buying everything "au taut du jour".

Everything in Haiti is prorated based on the value of the US dollar. The dollar goes up so does everything the people consume

Read more →  

Many young Haitians are making good money as Uber drivers in the Dominican Republic...

"I make good money as an Uber driver and I don't even have a car," a young Haitian friend told me. He doesn't have a car of his own so he uses a friend's car and they share the revenue...

Uber transport service is already available in two major cities in the Dominican Republic, Santo Domingo and Santiago de los Caballeros, and young Haitian students are taking advantage of the service to earn a decent living.

Read more →  

Back in March 2013, Haiti's finance Minister spoke of this great ambition to turn Haiti in to an emerging market by 2030. What happened to that plan? How are we doing with that?

"We have a great ambition, said Finance Minister Marie Carmelle Jean Marie in an interview to Emerging Markets Magazine in an interview. "We want to turn Haiti in an emerging market by 2030 and this cannot be just a slogan!"

What is an emerging market - Is Haiti classified as an emerging market?

Read more →  

I was watching a video about why Singapore is so rich and I heard that exports help to grow and expand an economy. Then I immediately asked myself this question: What exactly does Haiti export? How is the Haitian economy growing?

As Haitians, we need to start thinking about these things.

A lot of times you hear that Haiti is the poorest country in the western hemisphere and, as a Haitian you feel bad and you get defensive... "Oh by the way, did you know? Haiti is the first independent black country in the world, we won our independence back in 1804, we defeated the French..."

Read more →