As Europe’s monetary authorities struggle to maintain the value of the euro in front of dollarin the Dominican Republic the European currency has been depreciating, trading for the 20th of this month at 53.19 pesos per one, a decrease of 2% when compared to its exchange price the previous month, according to data from the central bank of the Dominican Republic (BCRD).
Yesterday in Europe euro regained parity against dollarto its maximum for three weeks, because the central bank European Union (ECB) applied an “aggressive monetary stance” by increasing its interest rate by 75 basis points, a strategy with which it managed to place the exchange rate of the euro at $1,0049.
While the negotiations of euro and the dollar fluctuated in international markets, in the Dominican Republic the value of the euro since January 2021, when 70.65 pesos were exchanged for a euro and to date they are 53 pesos.
If the values of the European currency are taken during this 2022, it is observed that it has fallen month after month. In January you could buy a euro with 65.09 pesos, staying -mostly- above 60 pesos in the first quarter.
For April-June the euro continued to decline; It was sold in Dominican territory between 59 and 57 pesos, according to statistics from the monetary authority. In the exchange balance it was recorded that a euro it was worth about 57.8 pesos in July and in September it fell to 53.19 pesos in the entities of the local financial system.
