Dominican Republic: opening price of the dollar today June 19 from USD to DOP

Dominican Republic: opening price of the dollar today June 19 from USD to DOP
Dominican Republic: opening price of the dollar today June 19 from USD to DOP

The Central Bank of the Dominican Republic has called to avoid a disproportionate increase in the price of the dollar. (Infobae)

He American dollar is paid at the beginning 58.78 Dominican pesos on averageso that it implied a drop of 0.2% compared to the figure from the previous session, when it stood at 58.90 pesos.

If we consider the data of the last seven days, the American dollar accumulates a decrease in 0.71%%; On the other hand, in the last year it still maintains an increase in 4.04%.

With respect to past days, it reverses the result of the previous day, where it obtained a rise of 0.65%, demonstrating that it is unable to consolidate a clear trend lately. In reference to the volatility of the last week, it is manifestly lower than that accumulated in the last year, so in this last phase it is trending less changes than usual.

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 be 4 percent. Nominal Gross Domestic Product (GDP) growth is estimated at 8.94 percent.

The same analysis 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.”

In the economic branchthe 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.

 
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