Third Gourde, 1872-
In 1872, the gourde was again revalued, this time at a rate of three hundred to one. In the early years of this third gourde, only banknotes were being issued and the name piastre was sometimes used instead of gourde, especially on a banknote issue dated 1875. In 1881, the gourde was linked to the French franc at 5 francs = 1 gourde and coin production recommenced.
The peg to the franc did not last but, in 1912, the gourde was pegged to the US dollar at a value of 5 gourdes to the US dollar. Although this peg was abandoned in 1989 and the currency now floats, because of the old link, five gourdes is often referred to as a "Haitian dollar". Likewise, 5 centimes is a "Haitian penny". Indeed, in many places, prices are given not in gourdes, but rather in "Haitian dollars", which must be multiplied by five to convert to gourdes.
Read more about this topic: Haitian Gourde