The Central Bank announced it will inject US$30 million into the exchange market to the upward trend of the dollar. The dollar increased as a result of an increase in the exchange rate commission, from 1.75 to 5.00. The increase in the exchange rate has been criticized by business sectors due to its inflationary effect, and the fact that it is contrary to trade liberalization policies. The US dollar is fetching year highs, but economists say this is only temporary as the Christmas season is near. Christmas is a time when families and friends visit or send home thousands of dollars. Likewise, thousands more dollars are due as companies that won state enterprise bids start making new investments. While many commercial banks are still buying dollars for RD$15.60-RD$15.80, exchange banks are offering upwards of RD$16.00 to the dollar. Importers have had to pay upwards of RD$16.45-RD$16.90 to purchase dollars.
