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Dominican Republic Central Bank says no reason for pricier dollar

Santo Domingo.- The Central Bank on Wednesday said there’re no factors to push  the dollar’s rate upward, but noted that it’s watching its path to assure its relative stability and “avert sudden movements which threaten economic growth and the inflation target.”

The Central Bank’s statement comes in the heels of concern voiced by various economic sectors on the recent climb of the dollar’s rate, as high as RD$41.50 in at least one major bank.

“As the foreign exchange market’s regulator, exchange rate expectations are anchored and the exchange rate’s behavior is within the levels set by the monetary program as well as the Dominican government’s Budget for this year,” the statement said.

“It’s evident that volume purchases by exchange brokers are above sales, therefore reflecting an offer more than enough to meet market needs,” the Central Bank said.

Source: DT

Category: DR News |

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Last updated December 2, 2016 at 1:59 PM
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