The stable exchange rate recorded by the Bank of Guyana over the period January to June, 2017, “masks the reality of a short-lived period of exchange rate instability,” the Ministry of Finance has said.
According to the recently released 2017 Mid-Year report, the Bank of Guyana’s exchange rate between the Guyana dollar and United States dollar remained at G$206.5 per US$1, the same as the previous year, due mainly to net purchases of foreign exchange to market.
“The apparent stability of the Bank of Guyana’s reported rates masks the reality of a short-lived period of exchange rate instability,” it said, while adding that commercial banks’ mid-rate for the US dollar was 5.3 percent higher over the same period.
