Takenfrom the Listín Diario
SANTO DOMINGO- In recent days the exchange rate reflected a slight upward movement, a situation that according to the Central Bank responds to a seasonal effect, typical of the first weeks of the year for inventory replenishment.
The Central Bank of the Dominican Republic (BCRD) reiterated that it maintains a strengthened international reserve position to cope with these types of shocks and guarantee the availability of foreign currency to the productive sectors and the general public.
The institution emphasizes that it continues to participate in the foreign exchange market whenever necessary, in order to contribute to currency stability and maintain a climate of certainty. It indicates that external factors have strengthened the dollar in global markets.
Meanwhile, in the Dominican market, exchange rate pressures are much more moderate than in other emerging countries, “thanks to the significant flow of foreign currency from remittances, the continued recovery of tourism, and the dynamism of the external sector (exports and foreign direct investment). The average exchange rate at the Central Bank of the Dominican Republic (BCRD) is currently between US$57.6454 and US$57.8919.”
