The Central Bank justified the maintenance of the increase in the exchange rate commission (it went up on Friday, 8 October from 1.75% to 5%). In a press communication, the Central Bank says that even with the increase in the prices of fuel and the exchange rate commission, there will be a RD$1,979.7 million deficit for meeting foreign debt commitments. The Bank estimates the tax on petroleum sales will generate RD$3,000 million, and the exchange commission will produce RD$3,066 million in 2000, for a total of RD$6,066. The foreign debt for next year will require payments of RD$8,042 million. The business community is strongly opposed to the increase in the exchange rate from 1.75 to 5.00, for its effects on the cost of production and retail.
