Opinions vary on the dollar-peso rates, with El Caribe saying that the dollar continued to rise in the local markets. The List?n Diario, however, says that the dollar was following the prices agreed upon last week. According to the List?n, the dollar was available at RD$27.75 at some banks, such as Citibank and Banco Popular. At Reservas and Bancredito, it was slightly higher. According to the paper, the exchange houses and remittance agencies held the highest rates. El Caribe says that the dollar was at RD$30.25 in the exchange houses, but admitted that a few of those reported dollars at RD$27.95, although none were available to the public. Nevertheless, these prices represent is a historic high for the dollar in the DR. According to El Caribe, although the banks published a rate of RD$27.75, they also reported that there were no dollars available. Exchange agencies were selling dollars at RD$30.25.
Banks like Santa Cruz reported just US$2,000 in sales, with Vimenca and Nacional reporting they had no dollars for sale. At RD$30.25, the dollar rose RD$.75 against the defenseless peso Dominicano. Government officials say that the abysmal exchange rate is the result of speculation, while the business community cites it as a result of a lack of confidence in the government?s economic team and its actions.