How to Price Products in HTG and USD

Why dual-currency pricing matters in Haiti

Haiti is a dual-currency economy. The Haitian Gourde (HTG) is the official national currency, but the US Dollar (USD) is widely used for large transactions, imported goods, and as a store of value. Many businesses quote prices in USD for imported items (electronics, appliances, imported food) while pricing locally sourced products in HTG. Customers may have either currency available and expect to be able to pay with what they have.

Without a proper dual-currency system, retailers resort to manual calculations. A customer wants to buy a product priced in HTG but only has USD. The cashier looks up the exchange rate on their phone, does the math on paper or in their head, and hopes the calculation is right. This process is slow, error-prone, and creates opportunities for mistakes that cost the business money or frustrate customers.

Vendrex handles dual-currency pricing automatically. You set prices in your primary currency (HTG) and the system converts to USD at checkout using the current exchange rate. Or you can set separate prices in each currency for products where you want specific HTG and USD prices. Customers can pay in either currency or a mix of both, and the system calculates everything correctly. See multi-currency support for how this works in the POS.

Two approaches to dual-currency pricing

There are two ways to handle pricing in a dual-currency environment. Each has its advantages, and many businesses use a combination of both:

Approach 1: Price in one currency, convert at checkout. Set all product prices in your primary currency (usually HTG). When a customer wants to pay in USD, the POS converts the total using the current exchange rate. This approach works well for products with stable HTG prices and frequent rate fluctuations. The customer sees the HTG price, and the USD amount is calculated at checkout based on the day's rate. The advantage is simplicity — you maintain one price per product and the system handles conversion. The disadvantage is that the USD price changes whenever the exchange rate changes, which can confuse customers who compare prices over time. Vendrex supports this approach by default: set prices in your store's primary currency and the system converts to other enabled currencies at checkout.

Approach 2: Set separate prices in each currency. Define specific HTG and USD prices for each product. The USD price might be G1,500 or $11.50, whichever gives you the better margin. This approach is common for imported goods where the cost is in USD and you want to maintain a specific USD selling price regardless of exchange rate fluctuations. The advantage is stable prices in both currencies — customers see the same USD price every time they shop. The disadvantage is that you have to maintain two prices per product, and when the exchange rate changes significantly, the margin between your HTG and USD prices can become misaligned. Many retailers using this approach adjust both prices periodically to maintain consistent margins.

Most Haitian retailers use Approach 1 for locally sourced products and Approach 2 for imported goods. Vendrex supports both approaches — you can set a single price with automatic conversion or define separate prices per currency. See product variants for managing different pricing structures across product lines.

Setting up dual-currency pricing in Vendrex

Here is how to configure your store for dual-currency pricing:

1. Set your primary currency. In Store Settings, set your primary (operating) currency to HTG. This is the currency in which you will enter most prices. The secondary currency is USD. You can also enable additional currencies if needed. See the multi-currency setup guide for step-by-step instructions.
2. Configure exchange rates. Vendrex can use automatic daily rates from cloud synchronization or manual rates that you set. Most Haitian businesses prefer manual rates because the street rate often differs from the official bank rate. Set your exchange rate in Store Settings under Exchange Rates. For example, if the current street rate is 130 HTG per 1 USD, set USD: 130. This means the system will divide HTG amounts by 130 to calculate USD equivalents. Read more about HTG/USD pricing strategies.
3. Enter prices in your primary currency. For most products, enter the price in HTG. If a product costs G1,500, enter 1500 as the HTG price. When a customer pays in USD, Vendrex calculates the USD equivalent as 1500 / 130 = $11.54.
4. Set fixed USD prices for specific products. For imported goods where you want a fixed USD price, enter both the HTG price and the USD price on the product page. For example, a imported blender might cost G13,000 or $100. Enter both prices. When a customer pays in USD, the system uses the fixed USD price instead of converting the HTG price. See the inventory management page for product pricing details.

Managing exchange rate changes

Exchange rates in Haiti can change significantly and quickly. Here is how to manage the impact on your pricing:

Review rates weekly. The HTG/USD exchange rate fluctuates based on economic conditions, political events, and market demand. Set a recurring reminder to review your exchange rate in Vendrex every week. If the rate has moved by more than 5%, consider updating it. Use a reliable source like BRH (Banque de la République d'Haïti) rates or the street rate that applies to your business.

Decide when to update product prices. When the exchange rate changes, your HTG-equivalent margins on USD-priced products change even if you do not adjust prices. If USD strengthens against HTG (i.e., the rate goes from 130 to 140), your HTG-equivalent revenue on USD sales increases. If HTG strengthens (rate goes from 130 to 120), your HTG-equivalent revenue decreases. Decide how often you will adjust product prices to maintain target margins. Some businesses adjust monthly, others quarterly, and others only when the rate moves more than 10%.

Use price lists for bulk updates. If you need to update prices for many products at once (e.g., because the exchange rate changed significantly), Vendrex supports bulk price updates. You can export your product list, adjust prices in a spreadsheet, and import the changes. See the dual-currency pricing guide for detailed instructions on bulk updates.

Communicate rate changes to staff. Your staff should know when the exchange rate changes and why. A cashier who does not understand why the USD price changed today might quote yesterday's rate to a customer, creating confusion at checkout. Brief your team whenever you update the rate or product prices. Vendrex shows the current exchange rate on the checkout screen so staff always see the correct rate.

Handling mixed-currency payments

A customer wants to buy a G1,500 product. They have $10 (USD) and G200 (HTG). How much more do they owe? Without a system, this calculation takes time and is prone to error. Here is how Vendrex handles it:

1. The cashier starts the checkout and scans or selects the product. The total shows as G1,500 (or the equivalent in USD if the customer prefers).
2. The cashier selects split payment — part in USD, part in HTG. They enter $10 USD first. The system converts $10 to HTG: $10 × 130 = G1,300.
3. The remaining balance is G1,500 - G1,300 = G200. The customer pays the remaining G200 in HTG.
4. The system records the payment: $10 USD and G200 HTG. The sale total in the system's base currency (USD) is calculated correctly. The receipt shows both currencies clearly.

This works for any combination of currencies and any number of tenders. A customer can pay with USD, HTG, or a mix, and the system handles the math instantly. This is one of the most valued features of Vendrex for Haitian retailers, who deal with mixed-currency transactions daily.

Common dual-currency pricing mistakes

Using the wrong exchange rate. The official BRH rate might be different from the street rate, which might be different from what your supplier uses. Choose one rate source and stick with it. Most Haitian retailers use the street rate (the rate at which local exchange bureaus buy and sell USD). Update it regularly in Vendrex. Inconsistency between your POS rate and the actual market rate creates confusion and potential losses.

Setting fixed USD prices that drift too far from HTG prices. If you set a fixed USD price of $10 for a product and the HTG price is G1,300 (based on rate 130), but the rate later moves to 150, the USD price is now equivalent to G1,500 while the HTG price is still G1,300. Customers paying in HTG get a better deal than those paying in USD. Review your fixed dual-currency prices periodically and adjust them to maintain consistent margins across both currencies.

Not training staff on dual-currency checkout. The system handles the calculations, but staff need to know how to use the features. Train every cashier on how to process mixed-currency payments, how to switch between displaying prices in HTG and USD, and how to explain the exchange rate to customers if asked. An untrained cashier who processes a USD payment as HTG can cost your business significant money.

Forgetting that exchange rates affect cost of goods sold. When you import goods, your cost is in USD. If the HTG weakens after you purchase inventory but before you sell it, your HTG-equivalent cost increases, squeezing your margin. Track your inventory costs in both currencies and review profitability reports regularly. Use Vendrex reports to monitor margin trends by product and currency.

Frequently Asked Questions