Central bank stops direct sales to public

Simon & Nicky

Bronze
Feb 3, 2004
655
14
0
www.simon-hall.co.uk
I've just got some cash together to deposit at the central bank and I read today that they no longer sell certificates direct to the public. I was wondering what that means exactly and how I go about purchasing a certificate now? Even at a measly 45% instead of 50%!!!!!!!!!!!!!!!!!

Simon
 

Chester4

*** Sin Bin ***
Feb 12, 2004
281
0
0
CD investment at Banco Central

Simon & Nicky said:
I've just got some cash together to deposit at the central bank and I read today that they no longer sell certificates direct to the public. I was wondering what that means exactly and how I go about purchasing a certificate now? Even at a measly 45% instead of 50%!!!!!!!!!!!!!!!!!

Simon


Simon .. I heard yesterday that Banco Central are paying 60% interest on CDs. I will try and find out some more information and get back to you. It's not always wonderful news when banks are paying such high interest though.
 

Simon & Nicky

Bronze
Feb 3, 2004
655
14
0
www.simon-hall.co.uk
Happy days

Ahhh such heady days indeed - sorry Mr Magic you've missed the boat. Yes, there was a story that the public could not buy them from the central bank anymore, no they didn't stop selling them to the public if you wanted to wait in a line all day, yes at one time you could get 60%, so far it transpires that they are a very safe investment but the govt. are threatening to "tinker" with the payments.

Today you'll be lucky to get half this amount and don't forget you now need twice as many pesos for the dollar equivalent of "back then". I know of a few who bought at the top and I raise a glass to them every night - they are the very shrewd few.

I'll PM you if you want more info.
 

americanized

New member
Nov 17, 2004
39
0
0
incredible rates

First, let me introduce myself. I am dominican born, but living in South East U.S. for the past 12 years. I have not been in DR in a couple of years so I am a little lost with the latest (trying to catch up reading this forum). Planning to spend Dec holydays down there...I am starting to think my future (long term) may lie in DR soil, but I am being cautious about it.

Now, these are incredibly high rate, at least compared to U.S. CD rates (about 4% Avg). Does anybody knows if BC (or any other secure bank) offers Certificates in US$, somewhere close to these rates?

Americanized
 

gringo in dr

New member
May 29, 2003
434
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0
americanized said:
First, let me introduce myself. I am dominican born, but living in South East U.S. for the past 12 years. I have not been in DR in a couple of years so I am a little lost with the latest (trying to catch up reading this forum). Planning to spend Dec holydays down there...I am starting to think my future (long term) may lie in DR soil, but I am being cautious about it.

Now, these are incredibly high rate, at least compared to U.S. CD rates (about 4% Avg). Does anybody knows if BC (or any other secure bank) offers Certificates in US$, somewhere close to these rates?

Americanized

At those rates do you think any bank is secure?
 

FarOut

New member
Jul 26, 2004
46
0
0
I like there return of invetment as well...

at least if I spend no more than RD$ 500 and don't win I can get it back in drinks, zigaretts and sandwiches :bandit:

It's the only save bet in the DR,
Stefan