Blame the pricier dollar on the season: Central Bank

Santo Domingo.- In recent days the exchange rate has shown a slight upward movement, a situation that according to the Central Bank responds to a seasonal effect, typical of the first weeks of the year to restock inventory.

It reiterated that it maintains a strengthened international reserve position to face this type of shock and guarantee availability of the currency to the productive sectors and the general public.

The institution “continues to participate in the foreign exchange market whenever necessary, in order to contribute to the stability of the currency and maintain the climate of certainty.”

It indicates that external factors have strengthened the dollar in global markets.

Meanwhile, in the Dominican market, exchange rate pressures are much more moderate than in other emerging countries, “thanks to the significant flow of foreign exchange from remittances, the continuous recovery of tourism and the dynamism of the external sector (exports and foreign direct investment). The average value in the BCRD today is US$57.6                                     and US$57.9.