In this article, We learn about “Haitian Gourde (HTG)”.Let’s Go!
The Haitian Gourde (HTG) is the official currency of Haiti, a Caribbean country located on the island of Hispaniola.
The Haitian gourde was introduced in 1813, replacing the livre at an exchange rate of 1 gourde to 8 livres.
The Bank of the Republic of Haiti (Banque de la République d’Haïti) is responsible for issuing and administering Haitian gourde.
Exchange rate system
The Haitian Gourde operates on a managed floating exchange rate system, where its value relative to other currencies is determined by market forces (such as supply and demand).
The Bank of the Republic of Haiti may intervene in the foreign exchange market when necessary to maintain stability or prevent excessive volatility.
This system allows Haitian Goode to respond to external shocks and changes in global market conditions while maintaining a degree of stability.
Segments and Denominations
Haitian Goude is subdivided into 100 smaller units called multiples.
Coins are available in denominations of 5, 10, 20 and 50 centimes, as well as 1 and 5 gourdes.
Banknotes are available in denominations of 10, 20, 50, 100, 250, 500 and 1,000 gourdes.
Economy and Challenges
Haiti’s economy is primarily based on agriculture, manufacturing, and services.
Agriculture, especially the production of staple crops such as rice, corn, and beans, is an important sector that provides employment to a large portion of the population.
The manufacturing industry, mainly textile and clothing production, is also an important part of the economy.
However, Haiti faces multiple economic challenges, including high levels of poverty and inequality, a large informal sector, and vulnerability to natural disasters such as hurricanes and earthquakes.
The country also faces corruption, weak governance and limited basic services such as education and health.
The Haitian government has been committed to formulating policies that promote economic growth, economic diversification and solve social problems.
Summary
In summary, the Haitian gourde is the official currency of Haiti and is administered by the Bank of the Republic of Haiti.
The currency operates on a managed floating exchange rate system, with its value determined by market forces and potential central bank intervention.
The Haitian gourde is subdivided into centimes and issued in a variety of banknotes and coins.
Haiti’s economy is largely based on agriculture, manufacturing, and services, but the country faces the challenges of high levels of poverty and inequality, a large informal sector, and vulnerability to natural disasters and other problems.
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