Closing value of the dollar in the Dominican Republic on March 15 of USD to DOP

In the last session, the US dollar traded at 54.75 Dominican pesos at the close, representing 0.04% compared to the price of the previous day, when it traded at 54.73 Dominican pesos.

In the last seven days, the US dollar has accumulated a rise of 0.09%, although, on the contrary, for a year it has still accumulated a decline of 3.54%. Compared to previous days, it reversed the result of the previous day in which it experienced a decline of 0.09%, showing itself unable to establish a trend recently. The volatility figure was 2%, which is clearly lower than the annual volatility figure (8.46%), so that in this last phase there is less change than expected.

In the last year, the US dollar has changed at a high of 57.67 Dominican pesos, while its lowest level has been 53.74 Dominican pesos. The US dollar is closer to its low than its maximum.

The Dominican currency The Dominican

peso is the official currency of the Dominican Republic is abbreviated as PDO and its creation dates back to 1971 after the breaking of the gold standard. At first it was called as “gold peso” or “Dominican gold peso”.

In 2010, an amendment was made to the Constitution to define that “The national monetary unit is the Dominican Peso”; after that, in 2017 a gradual replacement of banknotes and coins began with the old Dominican peso inscriptions.

The banknotes currently in circulation are 50, 100, 200, 500, 1,000 and 2,000 pesos oros. The 5 and 10 peso notes stopped circulating and were replaced by coins of 5, 10 and 25 pesos respectively. Meanwhile, the 500 and 2,000 pesos gold banknotes were issued on the occasion of the 500th anniversary of the discovery of America and the arrival of the new millennium.

It should be noted that all banknotes bear the phrase: “This banknote has liberatory force for the payment of all public or private obligations”.

As for the economy of the Dominican Republic, the Central Bank announced that the country closed 2021 with a Gross Domestic Product (GDP) of 12.3%, reflecting the economic recovery. It also stood at 4.7% in 2021 compared to 2019, which speaks of a return to pre-pandemic levels.

On the other hand, the coronavirus pandemic has affected the Dominican Republic when talking about inflation, as the rate stood at 8.5% at the end of 2021. By 2022, the Central Bank estimates that the GDP of the Dominican Republic could increase between 5.5% and 6.0%.

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