Low dollar rate expected to continue

The president of the Confederation of Commerce of Provisions and SMEs (Confecomercio) was confident that the dollar rate would continue its downward trend because, according to statistics from the Central Bank of the Dominican Republic (BCRD), the arrival of tourists and international reserves have increased, which should translate into a drop in the prices of food goods and services demanded by the population.

Gilberto Luna said that “a decrease in the commercialization of the dollar exchange rate will necessarily decree a systematic decrease in the products of the family basket.”

Luna emphasized that the dollar rate should go down to the levels it was in March 2020, between RD$53.50 and 54.00 for one dollar.

In the same vein, the business leader expressed that an excess of dollars in the economy should immediately bring about a policy towards lowering the exchange rate for the benefit of the population.

Likewise, he said that if the economic activities have decreased in the last year and more dollars have arrived in the country, there must be a disposition of all the sectors so that the prices of food, hardware, and other goods go down.
The BCRD reference rate yesterday was 57.14 pesos to one dollar.