The Central Bank official market rate is at RD$15.41. Prior to the Hurricane Georges hitting, the official rate for the dollar had been relatively stable at a RD$15.35. Banks had been purchasing dollars for RD$15.25 to RD$15.33 and selling at RD$15.40 to RD$15.65 but a week after the hurricane those needing to buy dollars have to pay up to RD$15.92 and RD$16.03. This means, that exchange houses, that normally offer better rates than commercial banks may be paying the dollar at more than the official RD$15.41 rate. The increase in the demand, as importers prepare to make foreign purchases of farming produce and construction materials following Hurricane Georges has compounded the situation of September and October, months during which importers buy dollars to restock for Christmas time. The Central Bank has said that the higher cost of the dollar is temporary, as major US dollar injections in insurance payments and remittances from Dominicans living abroad will balance out the demand.
