Daniel Toribio Marmolejos, general manager of Banco de Reservas, has announced that the assets for this financial institution reached a record level of RD$100 billion in June. This, he says, is unprecedented in the national financial system. In relative terms the increase was 26% when compared with September 2004. He said the growth in US currency was 60% considering the average exchange rate in September was RD$36.95 to US$1.00, whereas currently it is RD$28.86 to US$1.00. This represents an increase from US$2,157 million in September 2004 to US$3,478 million in June 2005. Toribio said the RD$100 billion goal was expected in September 2005 but the growth of assets over the past 10 months has made it happen at an earlier date and this is a result of the notable expansion of financial savings brought about by the trust generated and stability of the new macroeconomic policy. Toribio announced a big celebration for all personnel in all bank offices on June 23-24.<\/p>\n","protected":false},"excerpt":{"rendered":"
Daniel Toribio Marmolejos, general manager of Banco de Reservas, has announced that the assets for this financial institution reached a record level of RD$100 billion in June. This, he says, is unprecedented in the national financial system. In relative terms the increase was 26% when compared with September 2004. He said the growth in US … <\/p>\n