You should also check
As an alternative you can also invest in Dominican pesos. What is the difference? Well, while you get about 7-8%interest on dollars a year, for an equal amount in pesos you can get about 22% a year in pesos.(investments over US$50,000)
How does that stack up? Using the exchange rate of $19.50 to a dollar and considering fluctuations, let's say this is the "buying rate", using $100,000 dollars would give you about $675 a month or about $13,000 pesos a month. If you place the same amount in pesos you would obtain about $US1840.00 or about $36,000 pesos a month. Even if you consider inflation, peso devaluation and other risk factors, you would still be ahead investing in pesos.
However, to invest in pesos you may need to be present in DR to manage your investments properly. The market changes every day and for short term purposes, most people use 30-90 day certificates using brokers thru Bolsa de Valores(check Bolsard.com) or thru bank intermediaries such as COTISA. Banks will handle investment certificates in industry or fixed-bank certificates with lower yields, but still much higher than dollar investments. Companies such as Hache, Popular Leasing, Consorcio Moya, HizzPizza, and some Gymns issue certificates thru brokers and banks. Price Mart also has its own investment certificates paying about 20.75%.
TW