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7837: Re: 7785: The Gourde, or, Money in Haiti (fwd)
It's confusing for sure.
A gourde used to be tied by law to the US dollar at five to one. It isn't
anymore, but in Haiti we still refer to five gourdes as a dollar.
Percentages are given at the rate of *increase* over a one-to-one ratio. For
example when $100 US was equal to $102 Haitian, in other words to 510
gourdes, the rate of exchange was given as "2%", meaning a two percent
increase over a one-to-one ratio. So 400% really means a five-to-one ratio,
five Haitian dollars or twenty-five gourdes to one US dollar.
Hope this helps!
Peace and love,
Bon Mambo Racine Sans Bout Sa Te La Daginen
"Se bon ki ra" - Good is rare
The VODOU Page - http://members.aol.com/racine125/index.html