Santo Domingo. – Dominican Republic’s Central Bank will avert the sustained rise in the dollar’s exchange rate, the monetary authorities announced yesterday after a meeting with bank executives.
It said the measure seeks to maintain the macroeconomic stability and controlled inflation, affirming that the dollar’s rising exchange rate during the first days this year “is associated to seasonal elements of transitory reduction of the supply of dollars in the market during the first quarter of the year, (and) doesn’t respond to monetary reasons.”
The Central Bank said it will maintain a vigilance “to prevent undesired movements in the exchange rate which could affect the good performance of the economy.”
From: Dominican Republic, vieja Santo Domingo
And just what methods are they going to use to keep the peso at around the 38 to 39 level...the US dollar seems to have had a slight revival against most currencies and so why not against the peso ..all very well to have a fixed currency if it is around the correct level but if it is not ,,and the dealers around zona colonial are offering more than the banks now ,then it is an impossible position..
It is going to be a harder and harder job as the election approaches ...
And why is there a transitory shortage of dollars at this time of the year ..I would have thought that the tourists would have bought in a huge amount to be converted to pesos .
I would really like to see a new estimate from some outside authorities as to the correctness of the current exchange rate .
From: Dominican Republic
what good performance in the economy? The spend spend attitude of the politicans will now come to roost in the chicken coup. The statement that the government just made is full of Bulls###.
From: Dominican Republic, vieja Santo Domingo
in response to that question,the macro economic performance of the DR has been good as measured by production and by exports and the rise in GDP but the inflation figure most certainly has NOT been controlled.
Written by: josean, 13 Jan 2012 6:02 AM
From: United States, Show your Love for DR Vote AGAINST the PLD!
Who raised your platanos? The PLD!
Who raised your Chicken? The PLD!
Who raised your Taxes? The PLD!
Who raised your electricity? The PLD!
Who increased drug traffic? The PLD!
Who increased insecurity? The PLD?
Who violates the constitution? The PLD?
Who can't account for their millionaire fortunes? The PLD?
Who defunds the National University but builds one in Haiti? The PLD!
Who should to be thrown out on their asses on May 20? THEPLD!!!!!!!!!!!!
Written by: josean, 13 Jan 2012 6:14 AM
From: United States, Show your Love for DR Vote AGAINST the PLD!
Since Jose Figueroa Agosto has been sent on an extended Federal Vacation and Eric Holder read the riot act to Lie-onel the Money Laundering Business for the PLD will never recover!
From: United States, FREEPORT, Long Island.... (Look, beyond the words)
Damn JO, you managed to get a plus.... it must be too early
Written by: RoyStone, 13 Jan 2012 7:18 AM
From: Australia
It's not a rise in the Dollar - it's a drop in the Peso.
Written by: juanb, 13 Jan 2012 7:55 AM
From: Dominican Republic
This is being done to keep prices artificially low. It is an unsustainable program that will be discontinued immediately after the election of our next head Bozo.
Written by: RoyStone, 13 Jan 2012 8:03 AM
From: Australia
josean,
So Hipo will fix everything? I don't think so.
Written by: josean, 13 Jan 2012 10:52 AM
From: United States, Show your Love for DR Vote AGAINST the PLD!
Roy,
Your right, and really no one can "fix everything" but Guillermo Moreno is the best most transparent possibility to begin to climb the Mount Everest of problems that DR faces!
Written by: josean, 13 Jan 2012 10:54 AM
From: United States, Show your Love for DR Vote AGAINST the PLD!
"Damn JO, you managed to get a plus.... it must be too early"
Bobby Joe you jinxed me!
From: Puerto Rico
Papa is the best option for the DR. I remember well how attractive it used to be to spend my dollars there when the exchange rate got up to 55 pesos.
I hope the good times come back again!
From: United States
Try as hard as they want good luck because prices in pesos keep rising. This makes things for difficult for people being paid in pesos. Of course they want dollars because dollars are stronger. By holding down the exchange rate people will get less for their dollars and go someplace else. Great job trying to steal as much as possible.They will kill the goose that laid their golden egg and future generations will pay the price.
From: Dominican Republic, vieja Santo Domingo
no Roy Stone ,,,there is no evidence that the peso has lost any fundamental stregth,,even DR! has come out with an article saying that all the dollars that the banks around the country are holding ,,having come from tourists,will soon ease the situation . If you ask me , quite ludicrous that the exchange rate can be influenced by the seasonal increase in american tourists
Written by: RoyStone, 13 Jan 2012 4:30 PM
From: Australia
Hey, if the Peso keeps plummeting, can't the treasury just print more?
Will the 5,000 Peso note be the next cab off the rank?
I understand Hippo is good for inflation - maybe it will have his picture on it, maybe after he dies - Hippo-posthumous?
From: Dominican Republic
the euro and pound are both falling and will continue to fall . in fact there is talk of the dollar and euro possibly reaching parity because of the current crisis and possible breakup of the euro zone.
this is not due to seasonal elements of transitory reduction of the supply of dollars
more BS and apparent obliviousness and what youve come to expect from the inept in this banana republic.
From: Puerto Rico, United States, HAITI, Puerto Rico
Wouldnt it be a good idea if all the Caribbean and Latin American nations came together under one currency, like maybe what Ghaddafi tried to do with the African Nationsbefore assassinated by the U.S. Government?
Written by: RoyStone, 15 Jan 2012 12:43 PM
From: Australia
HaitianDominicanPuertorican,
Would that lead to Leo's assassination?
So Brazil and Chile would like to sacrifice all the gains they have made, to be dragged down by the Hispaniolan banana republics?
Get Real!
(pun intended)
Written by: mrtibes, 15 Jan 2012 8:27 PM
From: United States
They need a DR RON Paul for sure.
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It is going to be a harder and harder job as the election approaches ...
And why is there a transitory shortage of dollars at this time of the year ..I would have thought that the tourists would have bought in a huge amount to be converted to pesos .
I would really like to see a new estimate from some outside authorities as to the correctness of the current exchange rate .
Who raised your platanos? The PLD!
Who raised your Chicken? The PLD!
Who raised your Taxes? The PLD!
Who raised your electricity? The PLD!
Who increased drug traffic? The PLD!
Who increased insecurity? The PLD?
Who violates the constitution? The PLD?
Who can't account for their millionaire fortunes? The PLD?
Who defunds the National University but builds one in Haiti? The PLD!
Who should to be thrown out on their asses on May 20? THEPLD!!!!!!!!!!!!
Since Jose Figueroa Agosto has been sent on an extended Federal Vacation and Eric Holder read the riot act to Lie-onel the Money Laundering Business for the PLD will never recover!
This is being done to keep prices artificially low. It is an unsustainable program that will be discontinued immediately after the election of our next head Bozo.
So Hipo will fix everything? I don't think so.
Roy,
Your right, and really no one can "fix everything" but Guillermo Moreno is the best most transparent possibility to begin to climb the Mount Everest of problems that DR faces!
"Damn JO, you managed to get a plus.... it must be too early"
Bobby Joe you jinxed me!
I hope the good times come back again!
Will the 5,000 Peso note be the next cab off the rank?
I understand Hippo is good for inflation - maybe it will have his picture on it, maybe after he dies - Hippo-posthumous?
this is not due to seasonal elements of transitory reduction of the supply of dollars
more BS and apparent obliviousness and what youve come to expect from the inept in this banana republic.
Would that lead to Leo's assassination?
So Brazil and Chile would like to sacrifice all the gains they have made, to be dragged down by the Hispaniolan banana republics?
Get Real!
(pun intended)