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Haiti - FLASH : The BRH takes action, the Gourde goes up
24/08/2022 09:09:19

Haiti - FLASH : The BRH takes action, the Gourde goes up
Tuesday 24 hours after his press conference https://www.haitilibre.com/en/news-37469-haiti-flash-the-governor-of-the-brh-will-put-order-on-the-foreign-exchange-market-video.html the Bank of the Republic of Haiti (BRH) announced the injection of 8.5 million US dollars on the market, in order to contain the rise in the exchange rate.

This injection caused an appreciation of the national currency on the formal foreign exchange market where the greenback fell to 110 gourdes on Tuesday. On the other hand, it is still resold at a very high level, up to 145 gourdes for 1 dollar, on the informal market.

Distribution and amounts allocated :
Unibank: 2,250,000 US$ (1,750,000 to businesses, 500,000 to households)
Sogebank: 2,100,000 US$ (1,750,000 to businesses, 400,000 to households)
BNC: 1,300,000 US$ (850,000 to businesses, 450,000 to households)
Capital Bank: 1,200,000 US$ (750,000 to companies, 450,000 to households)
BPH: 200,000 US$ (100,000 to businesses, 100,000 to households)
Citibank: US$400,000 (0 to businesses, 400,000 to households)
BUH: US$700,000 (300,000 to businesses, 400,000 to households)
Sogebel: US$350,000 (150,000 to businesses, 200,000 to households)

In a notice dated August 23, sent to commercial banks, Jean Baden Dubois, Governor of the BRH, specifies the conditions for using these dollars :

1. The selling rate of ln BRH is 112.0000 gourdes for 1 US dollar;

2. The intermediaries undertake to resell at a rate not exceeding 112.2500 gourdes for 1 US dollar, i.e. a margin of 25 cents and will be required to submit to the Bank of the Republic of Haiti (BRH) information relating to sales made (first and last name, account number or buyer's management check number, amounts and rates);

3. The amount to be attributed to each company should not exceed 150,000 US dollars and that of households 3,000 dollars, exclusively for transfer needs abroad;

4. The amount injected is intended for companies operating in the following sectors: food, pharmaceutical or medical products and building materials; The company or household must provide its bank with proof of current payment obligations abroad. The BRH reserves the right to request proof for each transfer sent.

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