What is the HTG?
1 year ago

  1. The Haitian gourde is the national currency for the Republic of Haiti. The name, gourde, is French, though it is based on an old Spanish currency called gordos.
  2. The Haitian gourde subdivides into 100 centimes, and the symbol G represents the currency. The currency code is HTG, and the currency's value floats against other currencies.
  3. History of the HTG (Haitian Gourde)
  4. The Haitian gourde first circulated as a currency specific to Haiti in 1813. Before its introduction, the country used the colonial livre. The livre pegged to the French livre at par, or one colonial livre to one French livre. The livre divided into 20 sous, and 15 sous equaled one Spanish colonial real. In this way, the colonial livre pegged to both French and Spanish currencies.
  5. Introducing the first Haitian gourde in 1813 was a step in acknowledging the greater independence of Haiti.
  6. The gourde replaced the livre at a rate of eight livres and five sous for every one gourde. This exchange rate complicated currency conversions. During the first and second issues of the gourde, it fluctuated with the pegged currencies. As the franc rose to become the primary currency in France in 1881, the gourde pegged to the franc at a rate of five French francs to one gourde.
  7. Example of Converting Haitian Gourde (HTG) to Other Currencies 
  8. Assume that the exchange rate for the USD/HTG currency pair is 96.4. This means it costs 96.4 gourdes to buy one USD.
  9. The rate hovered near 40 from 2004 to 2014. Back then, the HTG was stronger since it took fewer gourdes to buy one USD. Starting in 2014, the HTG began to decrease, moving close to 100 in 2019. If the rate continues to move above 96.4, it would mean the HTG is continuing to weaken, as it costs more gourdes to buy one USD.
  10. To find out how many U.S. dollars it takes to buy one gourde, divide one by the USD/HTG exchange rate. For example, divide one by 96.4. This produces the HTG/USD rate (notice the codes have flipped) of 0.01037. That means that one gourde will buy a little more than US$0.01.
  11. By L (Investopedia)