Listin Diario points out that Dominican banks are paying considerably more than US banks for deposits in dollars. Money deposited in savings accounts and certificates of deposit in the DR yields 4-7.2%. This is considerably more than the 2.44-3.25% US Federal Reserve savings rates. The newspaper points out that the outlook for savings in dollars is good. It mentions that net international reserves of the Central Bank are at US$500 million, the government has kept the exchange rate stable for months at RD$16.66 to the US$1, and the government forecasts foreign investment will be US$1,200 million compared to US$1,000 million in 2000. According to the Listin Diario, savings in US dollars make up 15.4% of total savings in Dominican banks.
