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Central Bank Governor guarantees stable exchange rates

The Governor of the Central Bank, Hector Valdez Albizu, guaranteed stable exchange rates in the country, before and after the elections and regretted that there are attempts to alarm the country because the exchange rate has risen three cents.

Valdez Albizu, explained that for three cents in a country where some US$15 billion are moving around is no reason to get upset or excited.

There is no reason to be alarmed, there are no monetary reasons, there are no fiscal reasons and besides that the Central Bank can handle this situation perfectly, he said.

According to the official, this situation comes about because every three month merchandise is renewed, what was bought in December is paid off and new lines of credit are taken out, so that the announcement of price increases of different products is not right.

The people can be easy, and whatever the merchants are saying, cannot be influencing prices. This is a slight appreciation, creating unnecessary expectations, he ended.

Yesterday the leaders of the Dominican Federation of Merchants attributed the increases in the prices of primary foodstuffs to the increase in the cost of a dollar.
The merchants from the federation cited the example of imported products that have begun to go up in price such as Milex powdered milk, which went from RD$850 to RD$1000; Alacta Plus, that went from RD$900 to RD$1200; Nido Growth that went from RD$860 to RD$1000.

They noted that these increases in the prices of milks can be attributed to the increases in the cost of a dollar because the international prices of this foodstuff have been stable.

Source: Dominican republic Live

Category: DR News |

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Last updated October 22, 2016 at 2:00 PM
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