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Dollars to be injected into the market

Central Bank governor Hector Valdez Albizu has announced that the Central Bank will gradually be adding between US$100 and US$200 million to the market to satisfy the need for dollars for national productive activities.

Valdez Albizu made the announcement following a meeting with bank finance officers yesterday, Tuesday 29 March 2016. He said that they would not allow uncertainty or create any expectations about the exchange rate when the Central Bank had sufficient international reserves to face whatever eventuality.

Valdez pointed out that as of 28 March the bank had gross international reserves of US$5.17 billion and net of US$5.12 billion.

The meeting discussed the situation where some large businesses were being put on a waiting list for dollars for stock or paying invoices by banks in the days up to Easter Week. The Central Bank governor said the situation should return to normal over the next few days when the normal flow of dollars resumes due to tourism, free zones, mining and remittances.

Source: DR1, Listindiario

March 31, 2016

Category: DR News |

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