The peso, for the first time in recent memory, appreciated to the RD$40-to-US$1 mark, given the abounding positive expectations as the Fernandez government takes control. As of yesterday, the US currency was being bought for RD$39.48, after having peaked at a rate of RD$54 to US$1 during the Mejia administration. In the past two months, the peso had settled at an approximate rate of RD$45 to US$1. Since the change of mandate, the peso has been gaining about RD$1 a day against the US$1. The government is reportedly receiving offers of hundreds of thousands of pesos and dollars in deposits for advance tax payments, being offered by local and foreign businesses that want to support the government.
There is concern that the less purchasing power of the US dollar could affect the tourism and export manufacturing sectors. Government officials have said they have the option to buy the dollars to build up the international reserves, so as not to flood the market and depress the currency exchange market faster than the markets can adjust to.