The Central Bank is working on an Electronic Platform for Hard Currency Transactions as part of efforts to increase efficiency and transparency of the Dominican foreign exchange market. To this end, Central Bank Governor Hector Valdez Albizu met last week with the treasurers of financial entities transacting in foreign exchange. He said in February, loans and savings bank personnel were trained in the platform use.
According to Valdez Albizu, the Central Bank is finalizing ruling and guidelines for use of the system. The installation of the Plataforma Electrónica de Negociación de Divisas would begin this April 2019, and the system would begin to be implemented in May by phases. The first phase would be that of US dollar cash operations.
Assisting the Central Bank in this effort is the IMF through the Regional Center for Technical Assistance of Central America, Panama and the Dominican Republic (CAPTAC-RD). The Central Bank also has studied the experiences in implementing similar platforms in Mexico, Colombia, Chile and Argentina.
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Banco Central
11 April 2019