Central Bank government warns about buying expensive dollars


Staff member
Feb 20, 2019

The governor of the Central Bank, Hector Valdez Albizu warned those in the Dominican Republic about putting all their savings in US$ currency. The long-time economic authority said that those who convert their savings in pesos at high rates will take a loss when the economy recovers.

The Central Bank announced remittances from abroad were up 17% in May. But the country has taken a big hit with the shutting down of its tourism industry, affecting the usual flow of hard currency. Nevertheless, consumer spending has declined considerably, compensating in a small measure for the decline in revenues.

Read more in Spanish:Hoy

25 June 2020
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