In a time of macronomic stability, the Central Bank has announced that it will be injecting some US$20 million into the currency market. The Bank says that it can take this action because it is holding an excess of liquid reserves in view of the forthcoming election, an event that traditionally brings about fluctuations in the exchange rate. The Central Bank indicated that the gross reserves of the bank were US$550.2 million as of12 April 1996. The injection of the monies into the system is being done to prevent speculation by free market dealers. It will also compensate for large purchases of U.S. dollars by the Refinería Dominicana de Petróleo, the country’s petroleum refinery. The press has reported that the free market rate reached RD$14.05 this week and then dropped by 5 points after the announcement. The official rate is RD$12.87/ US$1.00.