Dominican Rep. Central Bank US$200M ‘injection’ calms jittery dollar

Santo Domingo.- Central banker Hector Valdez Albizu on Monday said the injection of US$200 million to the exchange market in mid February produced excellent results, since in his view it stabilized the dollar’s rate.

He said while the price of a dollar stood as high as RD$45.20 in mid-January, its current RD$44.74 rate shows a decline, reaching its normal growth trend.

"We managed to return to the peace and stability of the exchange rate’s movement," the official said during the launch of the second annual Economic and Financial Week which will last until next Friday, in the Central Bank Auditorium.

Valdez Albizu said he’s very calm because in financial matters when those jumps reach as high as 60 or 65 points, returning the currency to its original state is “very satisfying.”