Dominican Central Bank reiterates ‘not to worry’ over dollar

Santo Domingo.- The Central Bank of the Dominican Republic (BCRD) on Thur. reiterated that it will “continue to support the availability of foreign exchange in the foreign exchange market, as long as the foreign currency-generating sectors resume their dynamism.”

It noted that the high demand for dollars is due to “The uncertainty associated with the spread of COVID-19 globally.”

“The institution calls for confidence in the fundamentals of the Dominican economy and in the credibility of the Central Bank, which remains vigilant in the face of the development of events that could impact the achievement of its inflation target and the good development of the exchange market,” it said in a statement.

The BCRD recalled that the current supply of foreign exchange has been “impacted by the suspension of tourism, less dynamism in the free zones, national exports and Foreign Direct Investment, as well as a decrease in remittances, as has happened in emerging countries worldwide.”