Inflation at year's end: 1.33% (2009)
Official exchange rate: RD$36.66-US$1, RD$50-EUR1
Market rate: Dollars sold and bought at RD$36+ in exchange houses and commercial banks.
Prime interest rate: 12.38%
Interest on commercial bank loans: 17.31%
Home loans interest rate: 15.09%
Consumer loans interest rate: 22.62%
Interest paid on deposits in US dollars: 8-14% of CDs above US$20,000
Interest paid on deposits in RD pesos: 18-24% above RD$50,000
Commercial paper interest rates: 18-20% on three months
Minimum wage (general): $3,416.10 (slightly lower for companies of less than RD$500,000 in assets)
Minimum wage free zones: RD$2,490
Minimum wage tourism: RD$3,030 (slightly lower for companies of less than RD$500,000 in assets)
Unemployment rate: 15% (2009)
Credit card interest rates: 36%-84%
For official macroeconomic indicators, see the Central Bank’s web
site.
Estimated costs:
Rent of a three bedroom house: RD$15,000-RD$60,000
Cost of power per household: RD$1,500 + RD$1,500 per air-conditioner
Cost of telephone: RD$800 per month unlimited calls
Cost of basic Internet Service: RD$800 per month
Cost of water: RD$300 per month
Cost of a hotel room in Santo Domingo: RD$2,000 per night
Cost of a vehicle: RD$200,000 (used), RD$800,000 (new), RD$1,500,000 (luxury)
Cost of a taxi: RD$150 for routes within Santo Domingo
Cost of lunch/dinner at a restaurant per person: RD$600-RD$2000
Cost of gasoline: RD$160 per gallon
Cost of bilingual schools: RD$25,000 per month
Cost of Spanish language schools: RD$6,000-RD$20,000
Cost of dental appointment: RD$800-RD$3000
Cost of medical appointment: RD$600-RD$3,000
Cost of household help: RD$5,000-RD$15,000
Cost of a full time chauffeur: RD$10,000-RD$20,000
Cost of a receptionist: RD$15,000
Cost of a translation: RD$500 per page
Cost of a full time Spanish-speaking accountant: RD$25,000, non-employee RD$10,000-RD$20,000
Income Tax:
Personal income tax is exempt up to RD$325,000 a year.
The scale is to be adjusted for inflation every January.
Corporations pay a flat 25% income tax.
What people make in the DR:
Grupo Ros and Deloitte & Touche companies in the DR have carried out wage studies in the Dominican labor market. Contact these companies for that information.