Dominican Republic Central Bank closed 2021 with US$13B+ international reserves
Santo Domingo.- The Central Bank closed 2021 with net international reserves (RIN) of more than US$13 billion, a historical level that allows it to guarantee the relative stability of the exchange rate.
At the end of last December, the balance of net international reserves was US$13.03 billion, a figure that represented a gain of US$510.2 million in relation to the availability of foreign currency that began in January 2021, a volume of US$12.52 billion.
Jus in August was there a peak (US$13.60 billion) in international reserves higher than the amount at the end of the last fiscal year.
“In its preliminary report at the end of December on the behavior of the Dominican economy in 2021, the BCRD had anticipated that remittances and total exports continued with significant dynamism, with year-on-year growth of 11.2% and 21.7%, respectively.”
It added that imports (which represent the main demand factor for foreign exchange) increased 69.7% in total, while non-oil ones increased 57.9%, “in line with the accelerated recovery of domestic demand.”