Despite the injection of US$40 million into the foreign exchange market, the cost of the dollar versus the peso continued high. The Monetary Board of the Central Bank will meet today to study the case. Economists say that the peso is overvalued in relation to the dollar. Banks have been known to sell dollars for RD$14.75 (some 30 cents from last year’s RD$14.35 price), but the purchase price remains stagnant at RD$13.90-RD$14.00. Street vendors offer more pesos per dollar than in commercial banks, but the spread is not worth the risks of buying money on the street.
