DEIR AL-BALAH — Every morning, 14-year-old Abdullah al-Basoos leaves his dilapidated tent in Deir al-Balah and heads to the open market to try to find food for his mother and five siblings. As the eldest child, al-Basoos is responsible for making sure everyone gets something to eat. His father, who stayed behind after the rest of the family fled their home in the al-Shujaiya neighborhood in Gaza City at the outset of Israel’s genocidal assault, was killed in an Israeli airstrike. Al-Basoos now spends much of the day manning a makeshift stall selling staple items like sugar, salt, and rice to try and earn some money to buy food for his family. But with skyrocketing prices and a severe cash shortage across Gaza, like many Palestinians he now finds himself having to barter.
Last week, he couldn’t afford to purchase a small amount of white cheese, which at 12 shekels (approximately $4) was too overpriced. He ended up trading some halva for the cheese at a nearby stall. He had done these types of exchanges many times before, like bartering sugar for cooking oil—trading one staple item for another in a desperate bid to survive.
… Additionally, the physical quality of banknotes also affects their value. With no fresh notes being circulated in Gaza’s economy, shekels are ripping apart from wear and tear. “The Israeli army doesn’t permit cash into Gaza. Therefore, it’s the same banknotes and coins that move among people’s hands,” a senior official at the Consumer Protection Department at the Palestinian Ministry of National Economy told Drop Site on condition of anonymity for fear of reprisal.
Torn banknotes are valued less than new ones, meaning a torn 20 shekel note might only be worth 15 shekels on the market. Even metal coins are becoming worn and rusty and losing value.
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