Sales of dollars in the private sector reached US$12.39 billion last year, demonstrating an impressive increase. These numbers represent a 48.3% increase over dollar sales for 2004, when the amount was US$8.36 billion. And 2004 was a good year, showing a 20% increase over the infamous 2003 numbers. According to the Central Bank report, the commercial banks bought US$6.55 billion and sold US$7.372 billion, while the exchange houses bought US$5.09 billion and sold US$5.02 billion. The CB report calls the shift to commercial banks in the exchange market a “strong transformation in the exchange market.” In 2003, the exchange houses handled 57% of currency purchases, and in 2005 their participation had dropped to 43%. The Central Bank indicates that the commercial banks are becoming more aggressive in their pursuit of hard currency transactions, and their policies are being supported by international agencies. Studies carried out by the IDB indicate that the cost of remittances, an important source of earnings for the exchange houses, can be reduced considerably with the entry of commercial banking into the area.