2005News

Central Bank increases reserves

The Central Bank of the Dominican Republic has increased its hard currency reserves to US$1.773 billion as of 31 October, thanks in part to an injection of US$139.2 million from the International Monetary Fund. Net reserves were stated to be US$1.356 billion, up US$83.3 million from the September numbers. The Central Bank communique said that the expected massive remittances in November and December guaranteed that the reserve levels would be maintained into 2006.