Exhange Rate Movement

Ken

Platinum
Jan 1, 2002
13,884
495
83
The piece in yesterday's dr1 news summary indicated that the dollar is falling against the peso. And it has been. However, today in Sosua there has been a reverse. After offering 21.50 for the past few days, the exchange banks on the main street are offering 22 today. I got 22.40 where I regularly change money. A week ago I got 21.80.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
After posting the above, the news summary for today was published reporting that the dollar was up against the peso.
 

mondongo

Bronze
Jan 1, 2002
1,533
6
38
If I had lots of DR$ ,I would think about exchanging some of them to US$ now. Borrowed money and the slaughtering of the DR economy are only ephemeral solutions to the unaddressed endemic corruptive govt. According to DR1news, the DR congress secretly approved another US$280million dollar loan. Some of this money is to be paid over a 30 year span. Nothing has changed in the DR. The reason the exchange rate has gone down recently is that Mejia is LITERALLY sucking the life/money out of the middle and low class in order to finance the lower exchange rate.
 

Escott

Gold
Jan 14, 2002
7,716
6
0
www.escottinsosua.blogspot.com
Yeah but they took a stance against the US defending their own interests in Iraq. AMAZING... I didn't even think that these polititicos had the time for that nonsense when they are driving the country further and further into the dirt.
 

mondongo

Bronze
Jan 1, 2002
1,533
6
38
I read in Listindiario that the head of CONEP claims that "There is no reason for DR$ to fall to 25/1." Similar comments are regularly made by Mejia and his officers. When you hear these types of assertions, I suggest (I am not joking) either or both of these reactions:

1) They are clueless.
2) They are not telling the truth.