Economist Carlos Cuello called for calm among Dominicans who feel threatened by the rise of the dollar, assuring that “there is no reason to fear” since the dollar will close at the end of the year above RD$60 per US$1.
In this context, Cuello stressed that the population should not be worried, “on the contrary,” and underlined the latest report from the International Monetary Fund, which indicates that the exchange rate should be higher so as not to affect the funds that generate foreign currency.
Meanwhile, the dean of the Faculty of Economic Sciences of the Autonomous University of Santo Domingo (UASD), Antonio Ciriaco, also referred to the issue, mentioning that companies that carry out their inventories and logistics for this time, such as those that buy Christmas fruits, tend to acquire dollars in advance.
According to the dean, they are “anticipating” to take advantage of the current conditions, since when the exchange market stabilizes, the exchange rate could return to the standard levels of RD$58 or RD$60 per US$1.
Representatives of exchange houses, for their part, expressed their concern, indicating that they are at a disadvantage and asked the relevant authorities to take the necessary measures to lower the exchange rate.
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Meanwhile, the Central Bank The bank announced that today the dollar purchase rate was set at RD$59.8588, and the sale rate at RD$60.0467. In addition, it recalled that, according to the Eleventh Resolution of the Monetary Board of August 14, 2003, the exchange rate used for the daily revaluation of assets and liabilities in foreign currency will be the aforementioned purchase rate in the spot market.
