Bad start to the week for him weight in the Dominican Republic that ended the working day Esther June 10 trading down in front of dollar. The US currency gained value against the Dominican currency after the markets closed this Monday.
On the last day the American dollar quoted at closing 59.24 Dominican pesos on averagewhich implied a change of 0.08% compared to 59.19 pesos the previous day.
If we consider the data from the last week, the American dollar registers an increase in 0.41%%so that for a year now there has still been an increase in 5.04%.
In relation to the variations of this day compared to previous dates, the tables turned with respect to the previous day, in which a decrease of 0.15% was noted, without being able to establish a clear trend lately. The volatility of the last seven days is visibly lower than the data obtained for the last year (10.98%), therefore we can say that it is going through a period of greater stability recently.
The Macroeconomic Panorama report prepared by teams from the Ministries of Economy, Finance and the Central Bank predicts that by 2024 both closing and average inflation will remain at 4 percent. Nominal Gross Domestic Product (GDP) growth is expected to be 8.94 percent.
The same document indicates that for this year an expansion of real GDP of between 4.50% to 5.00% is expected, with a central projection of 4.75 percent.
He Dominican peso is the official currency of the Dominican Republic It is abbreviated as DOP and its creation dates back to 1971 after the breakup of the gold standard. At first it was called “gold peso” or “Dominican gold peso”.
In 2010, a modification was made to the Constitution to define that “The national monetary unit is the Dominican Peso”; After that, in 2017, a gradual replacement of the bills and coins with the old inscriptions of Dominican pesos began.
The banknotes that are currently in circulation are 50, 100, 200, 500, 1,000 and 2,000 pesos oros. The 5 and 10 peso bills stopped circulating and were replaced by coins of 5,10 and 25 pesos respectively. Meanwhile, the 500 and 2,000 peso gold bills were issued on the occasion of the 500th anniversary of the discovery of America and the arrival of the new millennium.
It should be noted that all the bills carry the phrase: “This bill has liberating force for the payment of all public or private obligations.”
Regarding the economythe Dominican Republic presented a solid performance in 2022 that has been clouded by low income growth due to an increase in prices due to the inflationwhich shot outside the Central Bank’s target range.
This situation also caused a fiscal deficit due to unexpected subsidies to counteract price increases, while the conflict in Europe also influenced, since the Dominican Republic is a net importer of oil, natural gas, soybeans, sorghum, wheat and corn.
