According to El Caribe, the abundance of dollars this week
will be one of the factors that will continue the 6% decline in the exchange
rate seen last week. Augusto Peignand, president of the Association of Exchange
Agents says that various factors should see the dollar in the RD$28.00 to
RD$30.00 range in the coming weeks. According to Peignand, the signing of the
IMF agreement, the sale of the Banco Mercantil, the first release of IMF funds
and the upcoming meeting of the nation?s leadership called by Monsignor Agripino
Nu?ez Collado has helped to restore confidence within the business community.
Two more aspects that, according to the president of Adocambio, will help lower
the exchange rate are the decision by President Mej?a to send the much discussed
5% tax on exports to Congress for approval and the measures being taken within
the Central Electoral Board to resolve the crisis created by irregular
assignation of jobs within the board.