The foreign exchange rate began to rise again yesterday. Listin Diario reports increases of 80 and 85 cents for the US dollar which closed at RD$34.50 as compared to the closing on Tuesday which was between RD$33.65 and RD$33.70 for sale. Exchange agents were selling the dollar at RD$34.30 and RD$34.50 and were purchasing at RD$33.90. Commercial banks were selling at RD$33.63 and up to RD$33.70 per one US dollar and were purchasing between RD$33.46 and RD$33.80 to one. The increase has been explained as the result of an extraordinary increase in demand and a reduction in the offer of the currency. Last October, the currency remained within the range of RD$32.00 and RD$33.00. The Euro was being sold yesterday between RD$40.25 and RD$41.00 and being purchased at RD$38.25 and RD$38.50 at exchange agents.<\/p>\n
El Caribe reports that the trend towards an increase began last Tuesday and agrees it is due to an increase in demand and a decline of the offer. According to the Central Bank’s International Department, the average price of the US currency in commercial banks was RD$34.12 for sale and RD$33.92 for purchasing. From January to October the currency has averaged between RD$29.83 and RD$32.78, according to the Central Bank. Monetary authorities continue to insist that there are no real reasons for an increase in the foreign exchange rate.<\/p>\n
Clave Digital informs that according to the Central Bank poll that is held every day between 10:30 am and 12:00 noon, the pondered average of the selling price was RD$34.13 to US$1.00 in commercial banks whereas it was RD$33.92 at the exchange agents. These selling prices reported by the Central Bank are the highest since 30 September 2004, which indicates that yesterday’s were record rates for the past 14 months.<\/p>\n","protected":false},"excerpt":{"rendered":"
The foreign exchange rate began to rise again yesterday. Listin Diario reports increases of 80 and 85 cents for the US dollar which closed at RD$34.50 as compared to the closing on Tuesday which was between RD$33.65 and RD$33.70 for sale. Exchange agents were selling the dollar at RD$34.30 and RD$34.50 and were purchasing at … <\/p>\n