Central Bank, CEOs of banks to mull US$5.0B+ in international reserves

Santo Domingo.- The Central Bank will meet today with the CEOsof Dominican Republic’s banks to deal with foreign exchange earnings, a netinternational reserves (NIR) exceed US$5.0 billion.

In a statement the Central Bank says that it is ready tocushion any unexpected situation.

It reiterates having sufficient reserves to face anyeventuality related to the dollar’s rate, noting the Dominican currency’s relativestability leads to “confidence of the national productive system and the citizens.”

As of March 23 the RIN closed at US$5.1 billion, whilegross international reserves totaled US$5.3 billion, “the highest in Dominican recordedeconomic and financial history.”