2003News

Exporters want to sell direct to buyers

The president of the Dominican Exporters Association, Samir Rizek, wants the Central Bank and the Monetary Board to modify the Monetary and Financial Code in such a way so that the exporters, who generate approximately US$800 million a year, can sell these currencies directly to consumers. According to Rizek, the exchange market is currently in the hands of two or three businesses, meaning that if the exporters were to sell their hard currencies on the open market, this would ?dilute the concentration (of power) that the exchange houses possess and make the exchange process more perfect. It would dilute any attempts at speculation.?