So I'd like to know from the folks here that have been following the value of the peso for a long time, what is going on with the current (de)valuation?
The US dollar has been taking a beating against every other currency recently because it has been artificially propped up by the Fed for so long and many economists predict a even bigger drop ahead (check out the outgoing IMF director's recent comments) .
What is going on with the peso devaluing even worse than the dollar? In the time the dollar has plunged to new lows against the euro, the peso has gone to 33.40/US$.
Any explanations? Is the Dominican economy so closely dependent on the US economy that the peso takes it on the chin whenever the dollar does? Even that doesn't explain why it the peso is being devalued more than the dollar recently.
Looking forward to your comments
The US dollar has been taking a beating against every other currency recently because it has been artificially propped up by the Fed for so long and many economists predict a even bigger drop ahead (check out the outgoing IMF director's recent comments) .
What is going on with the peso devaluing even worse than the dollar? In the time the dollar has plunged to new lows against the euro, the peso has gone to 33.40/US$.
Any explanations? Is the Dominican economy so closely dependent on the US economy that the peso takes it on the chin whenever the dollar does? Even that doesn't explain why it the peso is being devalued more than the dollar recently.
Looking forward to your comments