The shortage of US currency continues to affect access to foreign exchange in Guyana, with a Western Union representative sharing on Friday that several locations are now reaching their daily limits by late morning and that some limits have recently been reduced in the face of the continuing foreign exchange situation.
The representative told Kiskadee Watch that the limits vary by location and that most locations reach their daily limit by around 11 a.m. or noon.
She noted that some locations had higher limits in the past, but those limits have since been reduced due to the current foreign exchange situation. Some Western Union locations, she noted, reach their limits even earlier because of their popularity or location.
Two leading cambios in Georgetown on Friday quoted different rates for US currency, but both reflected the continued tightness in the foreign exchange market. One cambio was buying US dollars at $230 and selling them at $233, while another was buying at $233 and selling at $240.
The rates remain substantially above Guyana’s formal exchange rate of about $209 to US$1, particularly on the selling side. The latest findings are consistent with data from the University of Guyana Green Institute (UGGI), which found that the median rate in the parallel foreign exchange market increased to $238.30 per US$1 in September, from $236.75 in August.
UGGI’s September survey also recorded a mean rate of $238.27, compared with $237.22 in August, while the most frequently reported rate increased from $236.50 to $239.20.
The survey recorded September rates ranging from $235.40 to$241.10. The 25th percentile was $236.70 and the 75th percentile $239.80, producing an interquartile range of $3.10.
Meanwhile, UGGI cautioned that its survey is not intended to produce statistically representative estimates of foreign exchange rates, but rather provides indicative evidence of pricing conditions and market sentiment across transaction channels.
The latest developments follow months of reports by businesses and individuals of difficulties obtaining US dollars through the formal banking system.
In August, some customers reported waiting for weeks for foreign exchange transactions to be processed through commercial banks. One customer said a wire transfer initiated in July was held for about a month because US currency was unavailable, forcing the person to cancel the transaction and make alternative arrangements for travel. That customer also reported sourcing US dollars at $238 per US$1 at the time.
A businessman from a local cambio had told Kiskadee Watch that he was not experiencing a shortage of US dollars at the cambio, although he said the situation could be different at commercial banks. He had reported rates around $237 per US$1, with the price varying according to the denomination of the US notes.
President Irfaan Ali had disclosed in September that outstanding demand for foreign currency in the banking system was just over US$200 million, noting that commercial banks had reported that unmet requests were being carried forward from month to month because they could not satisfy all the demand.
He also said commercial banks purchased US$2.279 billion in foreign currency during the first half of 2026, compared with US$1.798 billion during the corresponding period in 2025, while Bank of Guyana foreign exchange injections increased from US$642 million to US$836 million over the same period.
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