At the beginning of the day, the euro was trading at the opening at 60.59 Dominican pesos on average, a rise of 1.74% compared to 59.56 Dominican pesos on average the previous day.
Over the past seven days, the euro accumulated an increase of 0.94%; but in year-on-year terms it still has a decline of 11.78%. Analyzing this data with that of past days, it chains three consecutive dates of earnings. As for the volatility of the last few days, it presents a visibly higher return than the volatility shown in the last year's data, presenting itself as an asset with greater changes than usual.
In the annual photo, the euro has even changed by a high of 66.04 Dominican pesos on average, while its lowest level has been 59.12 Dominican pesos on average. 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%.
Agencies
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