Haiti, Haitian Times Morning News Roundup

Central bank injects $15 million to stabilize gourde exchange rate

Outside shot of the Bank of the Republic of Haiti. Photo credit: Loop Haiti

The Bank of the Republic of Haiti (BRH) said it injected an additional $15 million into the foreign exchange market to stabilize the economy.

“This amount is distributed and sold on the market according to the conditions set by the central bank,” BRH tweeted on Monday.

The new amount follows two earlier injections of $12 million each in October and November. Economists have said the economy needs repairing because some banks weren’t following the exchange rate policies. As a result, the value of the gourde depreciated to 120 G per U.S. dollar in mid-August. A dollar is equivalent to 63 G as of Nov. 10. Source

Onz Chery

Onz Chery

A City College of New York graduate, Onz Chery covers politics, health, crime and other topics for The Haitian Times. He previously wrote for Elite Sports New York and the Cosmopolitan Soccer League. Chery can be contacted by email at [email protected] or on twitter @onz_11.
Onz Chery
Nov. 10, 2020

Leave a Reply

Your email address will not be published. Required fields are marked *