Abinader highlights economic stability in the Dominican Republic

Santo Domingo.- President Luis Abinader emphasized the Dominican Republic’s exchange rate stability, noting that the peso has experienced its lowest devaluation in the past five years since he took office in 2020, when the U.S. dollar traded at 59.1 pesos.

During his weekly press conference, Abinader attributed this achievement to sound monetary policy and the strong performance of key sectors that generate foreign currency. He highlighted record remittances, robust tourism growth surpassing 11.5 million visitors, and increased exports from free trade zones, as well as strong results in gold, cocoa, and coffee exports.

The president also pointed out that potential interest rate cuts by the U.S. Federal Reserve could further strengthen exchange rate stability. “We expect the FED to lower rates again, possibly by 0.25 or even 0.50, which would benefit us,” he said. Abinader expressed confidence that the Dominican economy’s openness and resilience will help maintain a stable exchange rate in the coming months.