Exchange rate continues to rise
The Dominican peso continues to depreciate against the US dollar, despite the measures introduced by the Central Bank. On 16 September, the Central Bank injected more than US$100 million into the market in an attempt to stabilize the exchange rate.
At present, the rate is at around 53 pesos to the US dollar. Economists are predicting it will continue to rise and could reach RD$55 to US$1 before the end of the year.
Businesses and economists are saying that the increase is due to the political instability caused by the divide within the ruling Dominican Liberation Party.
Source: DR1, Almomento
Oct 29, 2019
Category: DR News |