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BiggerRise of the dollar hits the pockets of Dominicans: “It cannot continue to rise like this”
The rise of the dollar has many Dominicans “up to their necks,” worried about the impact that the depreciation of the peso has on the prices of products and services.
According to the Central Bank’s exchange rates, the U.S. currency closed at RD$62.0090 for purchase and RD$62.2529 for sale, values that will serve as a reference until February 14, 2025.
“That affects all sectors and all of us workers, because when the dollar goes up, everything skyrockets. Here it affects us all, it should have control, let’s see what the Central Bank does. It cannot continue to rise like this, it is too expensive,” said a citizen.
Meanwhile, those who are engaged in buying and selling currencies have also noticed the upward trend. “I have always seen the variations of the dollar, it goes up and down, but in 2025 it broke all the schemes.”
Expert calls for calm
Despite the popular unrest, economists say that the rise of the dollar does not represent an imminent risk to the country’s economic stability.
Luis Reyes, former director of the Budget, stated that “the fundamental imbalances of the Dominican economy, the fundamental deficits continue to be sustainable in the short and medium term, therefore, the concern that has been expressed about the depreciation of the exchange rate and the effect that this could have on inflation and on the stability of the economy is unfounded”
Maybe consider returning to the gold standard?
Our currency would become useless because the government is giving all of our gold away and continues to do so.
You can say thank you to el triple feo ladronazo de Leonel que con el nuevo contrato con la barrick gold casi deja al país en ruinas…es más el beneficio para la barrick gold que para el país. Es un contrato hasta que se termine el oro, plata y los demás minerales en el país. Di no me equivoco la barrick le paga un tres por ciento de lo logre sacar del país. Busca en Google para que veas el valor economico de la barrick gold.
I don’t know how Leonel Fernandez, is still runing for President.
Wasn’t he the one that let all those Haitians into the Country?
and now they are trying to take over, and areusing all our resources?
Kick them OUT!!
If the government keeps at least half the gold and keeps it in its bank safe and secure, it could. The other choices are either invest more on banking to keep the peso stable and bring down the exchange rates back to 1998 where 1 USD equals to 8 DOP or switch the currency into the U.S. dollar.
The exchange rate in 1998 was actually 15.33 on july 2 1988 when it was devalued 9%
Everyone uses a fiat currency, the gold standard would just create a liquidity crisis. The issue is the Dominican Republic dosent make anything. End the insane 40-50% import tarriffs and allow Dominican store owners to import things and be productive and competative. Right now they are flooded with cheap chinese goods and no one has access to credit. End the war on good hardworking dominicans and allow them to get ahead by ownership and small business. Right now the rich just get richer. Have wages increased at the hotels with these increases. No. The Republic is one of the richest, educated, and hardworking countries in the Carribean, this is insanity.
I say this as an American who makes American dollars and lives in Higuey with my family. Its not right m your governement and elite in Santo Domingo continue to rob the country and treat the average Dominican like their personal servant.
Wake up People Abinader will go soon and another President will come. You have to find out and make him promise that all of these is going to change, Dominicans in DR cannot sit and expect all these Politicians or Candidates to do the the right thing.