The US dollar traded at the close at 54.84 Dominican pesos on average, an increase of 0.2% compared to 54.73 Dominican pesos on average the previous day.
If we consider the data for the last week, the US dollar marks a rise of 0.22%; although in the last year it still maintains a decline of 3.28%. Analyzing this data with that of previous dates, it ended with the flat streak of quotes of the last two sessions. The volatility figure presented a balance that was clearly lower than the volatility reflected in last year's data, indicating that it is performing more stable than the general trend in recent years.
In the annual photo, the US dollar has reached a maximum of 57.67 Dominican pesos on average, while its lowest level has been 53.74 Dominican pesos on average. The US dollar is positioned closer to its low than to 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%.
Agencies
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