Central Bank Vice Governor Luis Manuel Piantini denied that the government has plans to pass the remaining 15% of fuel purchases to the exchange free market. Already, 85% of fuel purchase dollars are transacted on the free market. He said that the Monetary and Financial Code presently awaiting approval of the Congress already establish a provision to this end, as the new code stipulates there be only one exchange market. At present foreign currency is purchased by the government at RD$16.66, the official rate, while free market operators buy the US dollar at upwards of RD$17. The government dollar purchases made primarily from exporters are used to pay for fuel imports and foreign debt obligations.
