By: Travis Chase | HGP Nightly News|
As the Government continues to monitor Guyana’s foreign currency situation, it has emerged that several major companies are offering premium rates for U.S. dollars, a trend that has contributed to a shortage for ordinary citizens and smaller businesses.
In October 2025, President Irfaan Ali announced that the administration injected US$1.2 billion into the market to stabilize demand and ease currency pressure. However, despite the intervention, concerns persist from business owners who say they still face difficulties in securing U.S. dollars through regular channels.
During his weekly press conference on Thursday, Vice President and PPP General Secretary Bharrat Jagdeo said the Government is actively monitoring signs of manipulation within the foreign exchange system.
“We are monitoring it,” Jagdeo said, noting that there have been multiple requests for scrutiny of ongoing market activities.
According to the Vice President, the slowdown in foreign currency flow is primarily attributed to two key factors, one of which involves transactions that cannot be processed through the formal banking system.
“There is a lot of money that can’t come through the banking system,” Jagdeo explained.
He stressed, however, that there is no systemic shortage of U.S. currency in Guyana.
“We have adequate funds,” Jagdeo reassured, adding that the Government remains financially stable and fully capable of meeting market demand.
Nonetheless, reports indicate that some companies are paying as much as GY$230 for one U.S. dollar in informal transactions — far above the official bank rate — as they seek to secure foreign exchange outside the regular banking channels.
“Some of these big companies are doing transactions that don’t come through the normal banking system,” Jagdeo noted.
The administration has pledged to continue monitoring and intervening where necessary to ensure market transparency and currency stability.
