2003News

Lots of pesos for the dollar

El Caribe newspaper reports that the dollar was creeping above RD$26 on the local exchange market yesterday, setting a new record-low for the Dominican peso. The Euro was selling for as much as RD$30. Minister of Finance Rafael Calder?n announced that the Monetary Board would meet to study measures to be taken. He told El Caribe that the difficulties of Baninter, the commercial bank under liquidation by the Central Bank had generated an increase in money in circulation that has affected the exchange rate.