Economy February 15, 2025 - 9:30 am

Rise of the dollar hits the pockets of Dominicans: “It cannot continue to rise like this”

The rise of the dollar has many Dominicans “up to their necks,” worried about the impact that the depreciation of the peso has on the prices of products and services.

According to the Central Bank’s exchange rates, the U.S. currency closed at RD$62.0090 for purchase and RD$62.2529 for sale, values that will serve as a reference until February 14, 2025.

“That affects all sectors and all of us workers, because when the dollar goes up, everything skyrockets. Here it affects us all, it should have control, let’s see what the Central Bank does. It cannot continue to rise like this, it is too expensive,” said a citizen.

Meanwhile, those who are engaged in buying and selling currencies have also noticed the upward trend. “I have always seen the variations of the dollar, it goes up and down, but in 2025 it broke all the schemes.”

Expert calls for calm

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Dollar price in DR

Despite the popular unrest, economists say that the rise of the dollar does not represent an imminent risk to the country’s economic stability.

Luis Reyes, former director of the Budget, stated that “the fundamental imbalances of the Dominican economy, the fundamental deficits continue to be sustainable in the short and medium term, therefore, the concern that has been expressed about the depreciation of the exchange rate and the effect that this could have on inflation and on the stability of the economy is unfounded”

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