2003News

Dollar hits RD$39 to US$1

The dollar hit a mark of RD$39 yesterday, in spite of a dwindling supply of pesos and even fewer dollars. El Caribe reported that the dollar rose RD$2.23 in trading houses. Some commercial banks continued to make dollars available at a rate of RD$28 for credit card payments while others were selling dollars at RD$38 for cash exchange. The Central Bank, meanwhile, has limited credit to the exchange houses, re-assumed control of hard-currency sales from exporters and other generators of hard currencies, and taken billions of pesos out of circulation ? with none of these tactics succeeding in bringing the dollar down.