2003News

Euro establishes itself in DR economy

Diario Libre?s financial pages carry a piece on the growing importance of the European single currency, the Euro, in the Dominican economy. The fact that the Euro has risen to the tune of 12% against the peso makes the DR an even more attractive destination for tourists from Europe, who will get RD$28 for every Euro exchanged, compared with RD$25 just one month ago. European visitors to the DR make up 34% of the country?s vacationers. The Euro?s stability, compared with the more volatile US dollar, is making it increasingly popular with local exchange houses.