CD Rates in DR?

[chico bill]

CD rates in the US for 1 year just hit 4% (Wells Fargo).
I am wondering if anyone here is monitoring CD rates in DR banks in dollars and pesos ?

Anything appealing >
?

 

[playacaribe2]

CD rates in the US for 1 year just hit 4% (Wells Fargo).
I am wondering if anyone here is monitoring CD rates in DR banks in dollars and pesos ?

Last check in August was 6% for a one year CD.

Perhaps others have more recent data. I think JDJones follows this fairly closely. Perhaps he will chime in here.


Respectfully,
Playacaribe2

 

[melphis]

We got 4% in Canada last month. Our last DR CD's were 8.25% but was based on having a lot of pesos invested and we had to lock them in for 1year.
They expired this year and we moved the funds back to Canada. No regrets at all. Over the years we did very well even with the pesos devaluation.

 

[chico bill]

I guess the direction of the Peso is the key, and I have no idea why the peso is increasing against the dollar. It should be falling?

 

[JD Jones]

Last check in August was 6% for a one year CD.

Perhaps others have more recent data. I think JDJones follows this fairly closely. Perhaps he will chime in here.


Respectfully,
Playacaribe2

Whoops! Sorry, just saw this. Here's the latest as of last week:

CD glory days are long gone.

 

[melphis]

If I recall correctly our first CD was around 18% for a one year term with a minimum of 100,000 pesos.
Yes, unfortunately those days are gone.

 

[cavok]

I guess the direction of the Peso is the key, and I have no idea why the peso is increasing against the dollar. It should be falling?

It looks like it might finally be going down again. Wally's today in Cabarete is paying 52.9 - up from 52.5 just two weeks ago.

 

[JD Jones]

If I recall correctly our first CD was around 18% for a one year term with a minimum of 100,000 pesos.
Yes, unfortunately those days are gone.

I got in during the golden years. Bought and paid for a house with the interest.

 

[melphis]

I got in during the golden years. Bought and paid for a house with the interest.

We pretty much lived for free for 14 years on the interest with money left over. As a few of us have said, the glory days are gone.

 

[Uzin]

Can anyone buy these CD from their own (any) banks if have account there, or need to go to a certain institution or bank to buy them ?

 

[playacaribe2]

Can anyone buy these CD from their own (any) banks if have account there, or need to go to a certain institution or bank to buy them ?

Most banks offer them. They can be purchased whether you have residency or not. You just need to have an account with the bank,


Respectfully,
Playacaribe2

 

[cristipund4]

this is useful information