He euro is paid at the beginning of the day today 63.19 Dominican pesos on averagewhich implied a change of 0.12% compared to the previous day’s value of 63.27 pesos.
Taking into account the last seven days, the euro notes a drop in 1.29%% although, on the contrary, in year-on-year terms there is still an increase in the 4.95%.
If we compare the data with previous days, the meaning of the previous result changes, in which an increase of 0.69% was recorded, showing a lack of stability in the results recently. In reference to the volatility of the last week, it presents a slightly higher performance than the volatility shown in the figures for the last year, so it presents greater alterations than the general trend of the value.
The Macroeconomic Panorama report carried out 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 expected to be 8.94 percent.
The same report 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 fieldthe 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.
