Haiti's currency is suddenly strong against the dollar. For many, that's disastrous
A sudden and spectacular appreciation in Haiti’s national currency, the gourde, is creating havoc across the country as economists try to figure out what’s fueling it and skeptical Haitian consumers wonder how long it will last.Over the past four weeks, the gourde has risen in value from 118 gourdes to the U.S. dollar at the end of August to 65 gourdes for every greenback on Wednesday, an appreciation of 81.5 percent.The gourde’s rise is a windfall for importers, big dollar-denominated borrowers and those doing business or getting paid in gourdes, who have seen their earnings plummet due to th...
Immigrants, hit hard by the pandemic, are sending even more money back to Mexico
SAN DIEGO — Silvana Alaníz, the owner of the tiny El Rincón restaurant in San Ysidro, works from dawn to dusk alongside her entire immediate family. Even her 10-year-old daughter helps serve the clientele who often wait in lines that wrap around the block for Silvana’s locally famous menudo.“We have five kids and they all cook,” she laughed. “They all help here. They spend their summer days in this restaurant. I think that’s one of the reasons we’ve been surviving.”But the restaurant supports not just her family in San Ysidro. Every month, Alaníz, 43, also sends money home to her father in Mex...
The San Diego Union-Tribune