2003News

Hope for the dollar at RD$31

Freddy Ortiz, the president of the Dominican Association of Remittance Companies (ADEREDI), told the Listin Diario that the US dollar should settle at a price of about RD$31, as long as the government does not constrict the exchange of information that makes the market nervous. Ortiz said the government should designate a capable spokesperson to deal with the various issues that have to do with the exchange rate. According to the ADEREDI president, apprehension is the main cause of problems in the exchange industry. Likewise, poor information and rumors that boomerang to produce price increases for the dollar also cause havoc. Ortiz said that the government authorities have to give some indication that fiscal and monetary discipline is being instrumented to restore confidence in the marketplace.