The US dollar is paid at the opening at 54.85 Dominican pesos on average, so it was 0.04% compared to the price of the previous day, when it stood at 54.87 Dominican pesos on average.
In the last week, the US dollar posted a rise of 0.27%; on the contrary, in year-on-year terms it still continues to fall by 3.43%. If we compare the data with previous days, it reverses the value of the previous day, which resulted in an increase of 0.09%, showing that it is not able to set a trend in recent days. The volatility of the last seven days is 2.78%, which is significantly lower than the annual volatility figure (8.41%), indicating that in this last phase it is trending less than expected.
In the last year, the US dollar has changed by a high 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 minimum value than to the 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”.
With regard to the economy, 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