lp to intensify this trade between the two countries. Further, a fibre-optic cable link between Georgetown and Manaus is in the works plus plans to expand Guyana's hydroelectric power potential for energy exports to Brazil. Export markets for Guayanese products include Canada, United States and the United Kingdom. Trinidad & Tobago just located north of Guyana in the southern Caribbean is an important supplier of oil resources to Guyana.
KNOWLEDGE: wealth of natural resources including gold. Presently, Canada's Cambior Inc. is producing 500,000 ounces of gold per year at it's huge Omai mine in the Guiana Shield, one of the world's most prolific gold belts. In addition to gold & bauxite mining, Guyana has tremendous potential with hydroelectric production. But more importantly, Guyana has great opportunity with eco-tourism with its pristine eco-systems & bio-diversity that is in large demand by many tourists in the global community.
CURRENCY: ISO symbol 'GYD', Guyana dollar. At time of review on April 14, 2003, the exchange rate for the Guyanese dollar was at 179.53 GYD to 1 US-dollar ('USD'). Floating exchange rate regime is in place and has served Guyana well to date from the previous fixed exchange peg. The merging of the official market rate with its large parallel market rate for transactions led to a large depreciation in the currency. All exchange controls are abolished.
CURRENCY HISTORY: during the 1980's, the real exchange rate appreciated. Historical exchange valuations include year 1997 at 143 GYD to 1 USD, 1998 at 150, 1999 at 178, 2000 at 182, December 2001 at 189.5.
CURRENCY FORECAST: the Guyanese dollar however remains vulnerable to external and internal shocks (ie. trade disruptions, weather - violent storms) coupled with a heavy debt burden keeps Guyana in a higher currency risk category.
UPDATED: April 14, 2003