The Dominican balance of payments will experience relief from lower petrol prices and the stable peso-dollar exchange rate by the end of the year. The current level of US$80 per barrel of petrol and an exchange rate of RD$44.03 to the US$1 means the deficit forecast in the National Budget for the end of the year in the current account of the balance of payment will be lower than expected. The Medina administration based its budget on an estimated average petrol price of US$101.30 and an exchange rate of RD$44.40 and RD$45.8 for December 2014.
In a speech at a Latin American bankers’ conference last week, Central Bank governor Hector Valdez Albizu said that the country would experience savings of US$600 million due to the dropping petrol price.