Dominican Central Bank: international reserves top US$10.5B

Santo Domingo.- As of September 28, international reserves were US$10.5 billion, equivalent to 13.3% of GDP, after the recent issuance of a US$3.8 billion sovereign bond.

“This transaction is the largest of its kind registered in Central America and the Caribbean, at highly attractive rates, despite the adverse context caused by the coronavirus, which represents a factor of confidence and with a view to economic recovery based on the strong macroeconomic fundamentals,” said the Central Bank in a statement.

On the flow of foreign currency, it said that for the fourth consecutive month, remittances posited interannual growth since the official declaration of a pandemic last March, reaching US$5.1 billion between January and August.

“I was the highest accumulated value for said period in the last 10 years, equivalent to an interannual increase of 7.3%,” the Central Bank said.

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