The US dollar is trading at the opening at 54.75 Dominican pesos, which meant a fall of 0.09% compared to 54.80 Dominican pesos the previous day.
With reference to the profitability of the last seven days, the US dollar marked an increase of 0.09%; although in year-on-year terms it still accumulates a decrease of 3.54%. With regard to past days, it brings an end to three days of positive streak. The volatility of the last seven days is manifestly lower than that accumulated in the last year, so that its price is showing fewer changes than expected in recent days.
In the annual photo, the US dollar has even changed by a high of 57.67 Dominican pesos, while its lowest level has been 53.74 Dominican pesos. The US dollar is placed 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”.
In the economic branch, 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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Agencies