In Gaza, cash has no value. Palestinians are forced to trade and barter for food to fight starvation.

Tel Aviv-Yafo

Gaza's economic system has collapsed, leaving residents unable to access their savings as banks remain closed. Cash is extremely scarce, and those who can obtain it often pay steep fees to middlemen, losing up to 40% of their funds. The value of money has plummeted, with even basic food items now unaffordable for many.

As a result, barter has become a primary means of survival, with people trading goods and services such as food and haircuts. Humanitarian aid is now a lifeline for nearly everyone, while public sector salaries remain unpaid and jobs have disappeared. Residents are forced to find creative ways to meet their daily needs, often trading whatever they have to secure essential items.

Palestinians barter for survival as banking system collapses

This is what money looks like in Gaza now. Tape torn and nearly worthless. The economy has collapsed, but people still need to eat. I'm in Gaza City and this is what a day of survival looks like. Cash is scarce, the prices are absurd, and survival depends on barter, aid and ingenuity. With banks shut down, people cannot access their savings. To get 100 shekels in cash, people pay 140 through the middlemen. I'm a citizen from Gaza. It has been almost two hours, I'm still searching for cash. I'm trying to find a way to get cash from my bank account, but I cannot. The problem is, there is a huge cut from the cash you're trying to withdraw. It's above 40%. Withdrawing 1000 shekels, almost $300, you'll receive 600 shekels, which is less than 200. When you go to the market, the 200 is not enough to get 2 kilos of lentils and 1 kilo of flour. Every day I need about $300 to buy basic supplies. It's a big problem. Most people rely on humanitarian aid to survive. Even before the war began, many people depended on the help. Now, it's nearly everyone. I've been running around the market since morning in order to buy basic supplies for my children using these 100 shekels. I can't buy anything with it. All street vendors refuse to take this bill because it's taped and old. What am I supposed to do? And when there is no cash, people turn to barter. The economy runs on trade, beans for bread and sugar for vegetables. One barber offered cuts for food. We suffer from many things here. First, the money notes are worn out. The other problem is the new economy based on trade, barter. Like someone comes to the salon and asks if he could have a haircut in exchange for two loaves of bread. People don't have money, and up till now, public sector salaries have not been paid yet. With jobs gone and salaries are frozen in bank accounts, people do what they can. Selling tea, collecting metals, or trading used goods just to buy a tomato and a cucumber. In Gaza, survival is not just a question of aid. It's about what you can trade, what you can sell, and what you can live without. Hani Mahmoud, Al Jazeera, from Gaza City, Palestine.

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