2003News

Dollar rate down, but none to be found

The dollar-peso exchange rate fell 100 points (one peso) to RD$36 to US$1 yesterday, but there are still no dollars available for purchase in the currency market. This is an unprecedented situation for the month of December, which usually sees a large amount of the US currency flooding the market as Dominicans residing abroad return for the holidays. The fall in the exchange rate is attributed to the announcement earlier this week that an agreement had been reached between the government and the IMF. Some currency exchange agents were buying dollars for RD$35.50, according to the papers.