Dominican Peso to be set @ 37 to 1

G

Guatiao

El Leon de los Cacicazgos
Mar 27, 2004
474
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Due to the current unstability of the peso and it's recent decline against the dollar have some conspiracy believers thinking the Dominican govt is manipulating the peso, they feel the peso will stabilze again @ 37 to 1. Does any DR1er believe this to be true? Would this be a good thing for the economy?

Peace,
Capo
 
S

suarezn

Gold
Feb 3, 2002
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290
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The government is slooowwwwly letting get up to 37 to 1, which is what the tourist secto has been asking for a long time now. Once it gets around 37 that's where they will maintain it, possibly until the end of Leonel's term.

It is a good thing they are doing it this way to not provoke any panic in the market.
 
G

Guatiao

El Leon de los Cacicazgos
Mar 27, 2004
474
8
0
38
I actually think it will be sooner rather than later, the peso had a huge decline past week it went from 28 to 32 and today it's at 33.-. I wonder how the late November - January "tourist" boom effect the peso & treasury?
 
J

JRR

New member
Dec 9, 2004
255
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where the peso is.....

I think I heard something last year that the World Monetary Fund established eveything at the 37. Fernandez I think kept it down in order to pay off debts, but can't keep it down much longer and still function in the tourist business.

I think it will stay where it is until after xmas....don't forget that xmas bonuses here pump in something like 10 billion into the economy. They need buying power. Then I think it will go up to take advantage of the tourist season. Don't forget, sad as it may be, there is no more Cancun!

Just my thoughts!

JRR
 
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