Nearly US$8.0B in reserves calms exchange market: Central Bank

Santo Domingo.- Central Banker Héctor Valdez Albizu, on Tues. met with the treasurers of banks and financial institutions to discuss the exchange market’s behavior.

Discussed at the meeting was the current demand for foreign exchange which the treasurers associate with the “seasonality” they affirm occurs in the first three months each year, when importers replenish inventories, acquire raw materials and products, and dividends are paid to the corporate foreign investment sector.

High reserves

Valdez said the Central Bank has nearly US$8.0 billion in reserves, a “sufficient level to face any eventuality and guarantee the adequate flow of the North American currency.”

He reiterated that the Central Bank will continue vigilant to adopt any monetary policy measure and change what’s necessary so that to buy and sell dollars is done normally, according to market needs.

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