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Central Bank: Business have 90 days to pull dollar-only cashiers

Santo Domingo.- Dominican Republic’s Central Bank on Thursday issued a 90-day deadline to remove the sales terminals operating (cashiers) in businesses across the country which receive payments only in foreign currency, mostly dollars.

In a Central Bank letter dated August 25 sent to operators of the businesses, Central Bank manager Erving Nova Bello warns and clarifies that the Dominican peso is the national currency.

“We’ve been following with concern the practice of some commercial, domestic and legally constituted foreign businesses which demand payment of their goods or services only in foreign currency by installing terminals for the sole purpose of selling points in currencies other than the Dominican peso,” the official said.

He said the devices to pay in foreign currencies can only be installed in businesses located in the country’s duty-free zones.

He said however that customers with bank cards issued in foreign currency can continue to use them normally. “The Dominican peso is the official currency of Dominican Republic…to pay debts and obligations as well as for the acquisition of goods and services, extends without exception throughout the national territory without prejudice freedom of reference to other currencies.”

Various sectors have recently denounced a shortage of dollars, which they affirm jeopardizes their normal business operations.

Source: DT

Sep 16, 2016

Category: DR News |

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Last updated October 22, 2016 at 2:00 PM
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