DR1 Daily News - Dominican Republic

The US dollar exchange rate has surged in the Dominican Republic, nearly reaching the government’s projected year-end rate of 63.11 Dominican pesos per US dollar within the first three months of 2025.

President Luis Abinader addressed the issue in his 17 March 2025 press conference stating that the country continues to have its highest foreign currency reserves ever, and that remittances, tourism receipts, foreign direct investment, and exports continue at record levels. He said he trusts veteran central bank governor, Hector Valdez Albizu has the situation under control.

On Friday, 14 March 2025, the Central Bank set the official exchange rate at RD$62.62 for purchase and RD$62.99 for sale, rates that remain in effect on Monday, 17 March. However, commercial banks are reporting transactions ranging from RD$61.50 to RD$62.70 for purchase and as high as RD$63 per US dollar for...