Survey on Foreign Exchange Activities in Supermarkets
Summary — This report presents the findings of a survey conducted by the Bank of the Republic of Haiti (BRH) in March 2017 on foreign exchange activities in supermarkets in the metropolitan area. The survey aimed to identify supermarkets acting as foreign exchange agents and gather information on their operations.
Key Findings
- Most supermarkets purchase dollars to stock inventory for imports.
- Exchange rates at supermarkets are based on formal market rates, with lower rates for purchases and higher rates for sales.
- A significant percentage of supermarkets host a money transfer service.
- The average spread between buying and selling rates in supermarkets is 2.2 gourdes.
- The survey covered 43 supermarkets in the metropolitan area.
Full Description
In March 2017, the Bank of the Republic of Haiti (BRH) conducted a survey of supermarkets in the metropolitan area to assess their foreign exchange activities. The survey aimed to identify supermarkets acting as foreign exchange agents, understand the scale of their operations, and gather information on the exchange rates they offer. The study found that most supermarkets purchase dollars to stock inventory for imports, and that exchange rates at supermarkets are generally based on the lower end of formal market rates for purchases and the higher end for sales. The BRH hopes that the information gathered will be useful for monitoring and understanding the foreign exchange market.