Closing value of the euro in the Dominican Republic on March 15 from EUR to DOP

Last day, the euro traded at 60.03 Dominican pesos at the close, which represented a rise of 0.86% compared to 59.52 Dominican pesos the previous day.

Compared to the profitability of the last seven days, the euro marks an increase of 1.53%; however, in year-on-year terms it still maintains a decrease of 12.38%. Compared to previous days, it turned the tables compared to the previous day, in which a decrease of 0.5% was scored, without being able to establish a clear trend recently. In the last week, volatility was 8.97%, which is slightly lower than the annual volatility figure (9.57%), which indicates that its price is showing less change than usual lately.

In the annual photo, the euro has even changed by a high of 66.04 Dominican pesos, while its lowest level has been 59.12 Dominican pesos. The euro is positioned closer to its low than its maximum.

Dominican Peso

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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