The ABA reported that foreign currency deposits increased by US$2.31 billion in one year and represent 34% of the deposits of multiple banks
SANTO DOMINGO. – Foreign currency deposits in multiple banks reached US$17.867 billion as of August 2026, after registering a year-on-year growth of 15% and an annual average of 11% during the last eight years, reported the Association of Multiple Banks of the Dominican Republic (ABA).
This trend reflects the increase in foreign currency deposits within the national financial system, which currently represent 34% of the resources deposited in these institutions. It also highlights the importance of savings as a tool for strengthening personal finances and contributing to economic growth.
Savings accounts account for 60% of foreign currency deposits
According to a report prepared by the ABA Technical Directorate, of the US$17,867 million raised in foreign currency, US$10,797.67 million correspond to savings accounts and US$7,069.45 million to time deposits, equivalent to 60% and 40%, respectively.
Compared to August 2025, foreign currency deposits increased by US$2.31 billion, representing a year-on-year growth of 15%, the highest recorded since 2020, when an expansion of 22% was achieved.
On the other hand, when these resources are expressed in Dominican pesos, the amount amounted to RD$1,062,200 million, equivalent to 34% of the RD$3,133,241 million captured by multiple banks.
"Of the total public deposits, those from savings and time deposit accounts in pesos and dollars represent 82.6% as of August 2026," the entity stated.
The organization also noted that, according to Monetary and Financial Law 183-02, multiple banks are authorized to receive deposits and grant loans in foreign currency.
Exports, remittances and tourism among the growth factors
In analyzing the behavior of these resources, the association explained that the increase in foreign currency deposits could be related to the performance of exports, remittances, tourism, and foreign direct investment.
Added to these factors is the preference of individuals and companies to keep part of their funds in foreign currency, as an alternative to meet their financial commitments and needs.
The analysis was released in the context of World Savings Day, celebrated every October 31, a date that seeks to promote the importance of properly managing economic resources.
Dollar deposits maintain an upward trend
Regarding the evolution of deposits during the period 2018-2026, the ABA noted that both savings accounts and time deposits have contributed to growth, although their share has varied over the years.
Between 2018 and 2022, savings accounts accounted for nearly 90% of the increase in foreign currency deposits, rising from US$5.222 billion to US$9.020 billion.
During that period, savings accounts registered a greater share of foreign currency deposits, averaging 55%, compared to 45% for accounts in Dominican pesos.
In contrast, time deposits maintained a predominance of the national currency, with an average participation of 60% during the analyzed period, which shows differences in the preferences of savers according to the financial instrument selected.
Time deposits have driven growth since 2023
From 2023 onwards, the behavior of foreign currency deposits was mainly driven by time deposits, whose balances increased from US$3,094 million in 2022 to US$7,069 million in August 2026.
According to the ABA, this instrument accounted for approximately 70% of the growth recorded during that second stage.
The entity also highlighted that savings accounts regained momentum during 2026, experiencing an increase of US$1.61 billion between December 2025 and August of that year, equivalent to an expansion of 17.5% in just eight months.
It highlights the importance of promoting a culture of saving
Finally, the Multiple Banks Association reiterated the need to continue promoting a culture of saving in its different forms, due to its contribution to the stability of personal and family finances.
Similarly, he highlighted that the saved resources constitute a source of financing for productive activities, favoring investment, the generation of opportunities and the sustainable growth of the Dominican economy.
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