The euro traded at the close at 60.65 Dominican pesos on average, up 1.3% from 59.87 Dominican pesos on average the previous day.
If we consider the data for the last week, the euro is showing an increase of 1.9%; on the contrary, in the last year it still maintains a decrease of 11.95%. Analyzing this data with that of previous days, he chained four sessions in a row in positive values. In the last week, volatility was 10.6%, which is higher than the annual volatility figure (9.51%), so it shows greater variations than the general trend in value.
In the annual photo, the euro has reached a maximum of 66.04 Dominican pesos on average, while its lowest level has been 59.12 Dominican pesos on average. The euro is placed closer to its minimum than 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”.
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%.
Agencies
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