More and more traders are ?dollarizing? their businesses, according to a report in Hoy. Companies like Ferreteria Americana, Distribuidora Universal, Sang Datared and Multi Lock Interactive are quoting prices in dollars and charging the equivalent peso amount according to the daily rate of exchange, says the newspaper. This is in reaction to the volatility of the ailing peso, which continues to plummet against the US dollar to such an extent that yesterday some exchange houses were offering as much as RD$36 to US$1. In the newspaper?s editorial column the commentator expresses concern at the situation and warns that the nation had best be prepared for some difficult months ahead.
Finance Minister Rafael Calder?n conversely expressed optimism yesterday, saying that he hoped the exchange rate would go down in the next few days. He had reproachful words for speculators, calling them “miserable souls” and accusing them of taking advantage of the situation for their own profit. List?n Diario columnist Jos? B?ez Guerrero comments that the Baninter collapse is not the only reason for the plight of the peso, however convenient it might be for the government to lay all blame a single factor.