After the downward opening, the Dominican peso The devaluation took place at the close of business on January 4 Trading down in front of American dollars. The currency of the United States recovered more than half a percentage point of its value against the currency of the Dominican Republic.
He American dollars was paid at closing Average 58.12 Dominican pesosWhich indicates a change of 0.69% compared to the previous session’s average of 57.72 Dominican pesos.
According to Bloomberg, the lowest price seen by the United States currency throughout the day was 57.95 Dominican pesos per unit. While the highest price of the North American currency during the session was 58.33 Dominican peso per unit.
In terms of last week’s profitability, the American dollars collects promotions of 0.99%So in the last year it still keeps increasing 6.43%.
Analyzing this data along with previous days data, it has increased for three consecutive dates. The volatility in the last week is lower than the data obtained for the last year (10.64%), which shows that we can say that it is going through a period of greater stability in recent days.
The Macroeconomic Panorama report, conducted by teams from the Ministries of Economy, Finance and the Central Bank, predicts that both headline and average inflation will remain at 4 percent by 2024.
Nominal Gross Domestic Product (GDP) growth is estimated at 8.94 percent. The same document suggests that real GDP expansion is expected between 4.50% and 5.00% for this year, with the central estimate at 4.75%.
In terms of monetary policy, the Central Bank of the Dominican Republic closed the year with a preferred rate of 7 percent, which will be key for the exchange rate.
The Dominican peso is the official currency of the Dominican Republic, abbreviated as DOP, and was created in 1971 after the collapse of the gold standard. Initially it was called “Gold Peso” or “Dominican Gold Peso”.
The notes currently in circulation are 50, 100, 200, 500, 1,000 and 2,000 pesos oros. 5 and 10 peso bills stopped circulating and were replaced by 5.10 and 25 peso coins respectively. Meanwhile, gold bills of 500 and 2,000 pesos were issued to mark the 500th anniversary of the discovery of America and the arrival of the new millennium.
It should be noted that all bills contain the phrase: “This bill has the force of discharge for the payment of all public or private obligations.”