What is happening with the US$ exchange rate, its gone done again today and some people have told me it will continue to go down, does anyone have some inside info???? Golo where are you? You are usually well informed on this.
I really have no answer , but in today's Daily Listin there is an article about the demand of having the exchange rate at 37 Pesos a $.. and an answer by the president that this would increase their debts by millions of pesos .. It seems that some exporters as well as the touristical sector are asking to devaluate the peso ....For me the article "Advierte sobre devaluaci?n
Leonel dice que las protestas callejeras tumban Gobiernos en Am?rica Latina" isn't very clear but at least something is moving .
See dr1 news today (Friday, 1 April) at http://www.dr1.com
Will be available online through Monday, 4 April morning.
Problem is that the past government went on a debt-taking spree. The present government has an agreement with the IMF to pay the debt. Bottom line is that the government likes the appreciated peso because then the dollars it needs to pay the debt cost less.
What this means is that the DR is not the bargain it was; not as expensive as other destinations in the Caribbean, but no longer a bargain.