{"id":134912,"date":"2020-01-09T14:33:31","date_gmt":"2020-01-09T14:33:31","guid":{"rendered":"http:\/\/ny1.dr1.com.do\/wordpress\/?p=134912"},"modified":"2020-01-09T15:26:05","modified_gmt":"2020-01-09T15:26:05","slug":"banks-set-a-limit-for-exchanging-pesos-for-us","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2020\/01\/09\/banks-set-a-limit-for-exchanging-pesos-for-us\/","title":{"rendered":"Banks set a limit for exchanging pesos for US$"},"content":{"rendered":"\n
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Commercial banks are rationing the sale of US currency to US$1,000-US$2,000 per client per day, depending on the bank. For businesses to exchange sums larger than US$2,000, they need to go on waiting lists that can take three or four days, as reported in El Dia. <\/p>\n\n\n\n

El Dia reports that the banks are selling larger amounts of up to US$3,000 for the payments to the credit cards of their customers. But sums larger than this require special authorization by the internal exchange table committee of the banks. A black market is now again operating. <\/p>\n\n\n\n

The scarcity of foreign currency at this time of the year is not usual. This is the time of the year when thousands of ex-pats return with lots of cash to spend. Likewise, merchants have already paid for the goods that they imported for Christmas gifts giving time.<\/p>\n\n\n\n

Juan del Rosario, director of the Socioeconomic Research at the Economics School of the state university, UASD, remarked that this situation could be banks taking preventive measures to avoid a scarcity, which then generates tension in the exchange market.<\/p>\n\n\n\n

Banks are asking RD$53.65 per US$1. <\/p>\n\n\n\n

The Central Bank says there is no scarcity of US dollars. The Central Bank says that commercial banks have available US$1.1 billion to supply customer needs. The Central Bank acknowledged that the local exchange bank is under the pressures of the uncertain international geopolitical situation and a slowing in global economic growth.<\/p>\n\n\n\n

Read more in Spanish:
El Dia<\/a>
El Dia<\/a><\/p>\n\n\n\n

9 January 2020<\/p>\n","protected":false},"excerpt":{"rendered":"

Commercial banks are rationing the sale of US currency to US$1,000-US$2,000 per client per day, depending on the bank. For businesses to exchange sums larger than US$2,000, they need to go on waiting lists that can take three or four days, as reported in El Dia. El Dia reports that the banks are selling larger … <\/p>\n

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